Twitter Hits $1B Valuation

Company will raise $50 million this round
By Sarah Quinn,  Newser Staff
Posted Sep 17, 2009 9:16 AM CDT
This undated screen shot shows short-message social networking site Twitter.   (AP Photo)

(Newser) – Twitter soared to $1 billion in valuation in its most recent round of venture capital funding,
TechCrunch reports—up from $250 million in a round earlier this year. CEO Evan Williams shared the results with Twitter employees during a recent meeting. Sources say the company will raise about $50 million; it raised $35 million in the last round. This time, Insight Venture Partners is reported to be the primary investor in the startup.