Wednesday, 3 August 2011

Twitter is valued at $8bn

"Twitter, the microblogging website that lets users tweet messages of 140 characters or less, is now worth $8bn (£4.9bn). The firm's new price tag comes after a $400m investment in the loss-making venture from serial social media investor DST Global. Twitter is now nominally worth about the same as rating agency Moody's, which had revenues of $1.2bn in the first six months of 2011 and is nearly as valuable as Marks & Spencer.
The huge valuation reflects high expectations for the company. Confirming the investment, Twitter also announced that its users now send 200m tweets a day, up from 65m a year ago."

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