Fresh funding values Twitter at $3.7b

Twitter has been valued at $3.7 billion (€2.7 billion) after its fifth funding round pulled in an additional $200 million.
 
The micro-blogging firm raised cash from venture capital firm Kleiner Perkins Caufield & Byers and other investors, taking its total investment to $360 million since it was founded three years ago, All Things Digital reported.
 
Its value has risen sharply from the $1 billion estimated at its last funding round 15 months ago and illustrates the ballooning prices of emerging web properties.
 
Kleiner beat out Russia’s DST Global – an investor in Facebook – to win the deal.
 
GigaOm stated the VC firm, once the Valley pacesetter but more recently focused on cleantech, had once more paid a “massive premium” to get a piece of a hot start-up.
 
Twitter chief Dick Costolo stated that 2010 has been the firm’s most significant year since it was founded, with 100 million new users added, staff headcount growing by 220 to 350, and the number of messages sent hitting 25 billion.
 
He also revealed two new board members - Mike McCue, CEO of start-up Flipboard; and David Rosenblatt, the former chief of online ad firm DoubleClick.

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