Twitter confirms new financing led by DST

News Wireless Global 2 AUG 2011
Twitter confirms new financing led by DST
Twitter said it received a "significant" round of funding led by Digital Sky Technologies and including existing investors. The company didn't disclose how much money it raised, but a person familiar with the matter told the Wall Street Journal that Twitter raised USD 800 million in a round valuing the company at a total USD 8.4 billion. Half the financing will be used to buy out existing shareholders, and half of the investment will go to Twitter's operations. The company said it will use the cash "to aggressively innovate, hire more great people and invest in international expansion".

Categories:

Mobile,  Internet

Companies:

Twitter,  Digital Sky Technologies

Regions:

Global

Tags:

Messaging, Financial funding

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