Social media site boosted by DST Global's $400m, as value doubles since December and daily traffic triples in a year.
This article titled “Twitter valued at bn after large investment” was written by Dominic Rushe in New York, for The Guardian on Tuesday 2nd August 2011 19.00 UTC
Twitter, the microblogging website that lets users tweet messages of 140 characters or less, is now worth bn (£4.9bn). The firm’s new price tag comes after a 0m 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 .2bn in the first six months of 2011 and is nearly as valuable as Marks & Spencer.