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Twitter, the messaging web site that has become an Internet sensation, is nearing a deal to close as much as $100 million of new funding from as many as seven investors, according to people familiar with the deal.
The investor group includes mutual fund giant T. Rowe Price and private-equity firm Insight Venture Partners, which are new investors to Twitter. The $100 million investment is about twice as much as Twitter was reportedly expected to haul in this latest round of fund-raising.
Other investors in this round include venture-capital firms Spark Capital and Institutional Venture Partners, which have previously invested in Twitter.
The investors are valuing Twitter, which has yet to generate revenue or finalize its plans for making money, at about $1 billion. A person familiar with the deal said investors are applying a similar value to Twitter as that applied to Facebook, which at one point was valued at $15 Billion. By some estimates, Twitter is expected to have 25 million users by the end of 2009. Facebook has 300 million users.
httpwebwitch I think is onto something, they see it as a next best channel for advertising spam.
ad injection would be a deathblow... unless all advertisers are forced into participating in the two way communications.
who's going to follow your blue widgets blog
I like to follow my web host for network updates, special deals, etc. I also follow Google, Matt Cutts, other interesting people in the web industry, and a few "celebrities" on topics of my interest. I was the first to consider it a waste of time but it's quite fun actually. It's like RSS feeds, but more interactive.
A few hours ago we closed a significant round of funding with a group of investment firms that we're excited to publicly thank: Insight Venture Partners, T. Rowe Price, Institutional Venture Partners, Spark Capital and Benchmark Capital.