The Ashes

Technology, Science and other news
September 17, 2009

VCs Betting Twitter Is Worth $1 Billion, Still No Revenue Model

Posted by : admin
Filed under : General

There are only a certain number of start-ups that can walk around feeling like over a billion dollars or more.  Facebook and LinkedIn are both in that club.   And now Twitter will be joining the billionaire’s club in their next round of funding that will give them that valuation.  Twitter co-founder revealed a new round of potential funding that will put them at a $1 billion valuation at an all hands meeting according to a TechCrunch source.

Twitter will raised $50 million to receive the $1 billion valuation.  In the past Twitter had already raised $35 million from Benchmark Capital and Institutional Venture Partners.  The $35 million round gave them a valuation of $250 million.  Thus far Twitter has raised $55 million in funding.  That should keep them going for a while despite not having a revenue model.  The rumored investor in the upcoming round is expected to be New York based venture capital firm Insight Venture Partners.

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