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Twitter confirms major cash boost

Social networking website Twitter has confirmed that it has closed a “significant round of funding”.

Co-founder Evan Williams said in a blog post that the site had secured money from five investment firms.

However, he did not confirm earlier reports that suggested the firm had managed to secure $100 million (£62m), which would value the firm at $1bn.

The site, which allows users to write and share 140-character messages, has more than 45 million users worldwide.

The site had previously raised $35m in February in a deal that valued the business then at $255m.


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Originally posted on BBC News

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