Twitter valued at $8 billion by latest investments
2nd Aug 2011 | 07:51
Will "aggressively innovate"
Twitter has been valued at a staggering $8 billion (c£4.9bn), according to the terms of the latest $800 million investment which will see the service 'aggressively innovate'.
The Financial Times has spoken to a source which suggested that no public listing of the micro-blogging platform would be made until 2013 at the earliest.
The same person also suggested that Russian investment firm DST paid $400 million for a 5 per cent stake in the company.
Come very far
"We've come very far in a short time," said a statement on the Twitter corporate blog.
"Now we have an opportunity to expand Twitter's reach with a significant round of funding led by the venture firm DST Global, with the participation of several of our existing investors.
"We will use these resources to aggressively innovate, hire more great people and invest in international expansion."
Twitter's rise and rise has been well documented, with the micro-blogging service becoming one of the most recognisable social networks on the web.
The company has revenues of between $100m and $150 million, so it is anything but a huge moneymaker at the current time.
However, with a massive subscriber base, and a service that is becoming a key influencer due to the presence of major companies and celebrities, Twitter remains a powerful company.