Report: Twitter in talks to raise new funding round that would make it worth $3 billion
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Facebook’s Mark Zuckerberg may have stolen the show Tuesday night at the Web 2.0 Summit in San Francisco. But the Internet sensation on everyone’s minds and lips was Twitter.
The much-discussed (and tweeted) San Francisco company that runs the popular information-sharing service is said to be exploring raising another round of funding. Its last one valued the company at $1 billion, which in this booming (or bubbly, take your pick) environment, has become the Silicon Valley equivalent of chump change, with secondary-market trading of Facebook hitting $41 billion and funds buying Twitter shares from employees at a valuation of $1.6 billion and higher.
Now TechCrunch’s Michael Arrington is reporting that investors are duking it out to lead the round which would value Twitter at $3 billion. Yuri Milner’s DST, which invested in Facebook, Groupon and Zynga, is champing at the bit, but apparently there are others just as motivated.
Also still cycling the rumor mill: that Google would buy Twitter for up to $5 billion.
Twitter co-founder Evan Williams speaks Wednesday at Web 2.0. Stay tuned.
-- Jessica Guynn