JPMorgan Eyeing Twitter Stake

New $1.2B fund targeting social media
By Rob Quinn,  Newser Staff
Posted Feb 28, 2011 2:32 AM CST
Updated Feb 28, 2011 5:49 AM CST
The chief executive officer of Twitter, Dick Costolo, arrives to speak at the opening of the 3GSM World Congress in Barcelona.    (Getty Images)

(Newser) – Investment giant JP Morgan is seeking to snap up a slice of Twitter, insiders tell the Wall Street Journal. The firm's new $1.2 billion Digital Growth Fund is in talks to acquire a minority stake in the microblogging site in a deal that would value Twitter at around $4.5 billion, say the sources, who stress that talks are ongoing and no deal has been struck yet. The fund—which is targeting private Internet and digital-media companies—is also looking for a stake in online gaming heavyweight Zynga and coupon provider LivingSocial, the sources say.

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