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Twitter confirms "significant" funding from DST

Joining the ranks of Facebook, Groupon and Zynga, the microblogging darling catches Yuri's wallet

Financial trends and news by Ronny Kerr
August 1, 2011 | Comments
Short URL: http://vator.tv/n/1d59

Twitter announced Monday that it has raised a “significant” round of funding led by DST Global, the Yuri Milner-operated venture capital firm obsessed with extending the private life of late-stage startups.

The company revealed the news in a blog post:

We’ve come very far in a short time. Now we have an opportunity to expand Twitter’s reach with a significant round of funding led by the venture firm DST Global, with the participation of several of our existing investors. We will use these resources to aggressively innovate, hire more great people and invest in international expansion.

Terms of the deal, including size of the round or valuation, have not been disclosed.

Finally official, Twitter’s new funding had been rumored for over a month, with the most recent report claiming the deal would be sized at around $800 million, with $400 million dedicated specifically to cashing out current company employees and investors. The round would value Twitter at a reported $8 billion, more than double the $3.7 billion valuation Kleiner Perkins Caufield & Byers gave Twitter for its last financing in December.

DST, or Digital Sky Technologies for long, holds stakes in several other prominent Web companies, including Facebook, Groupon, Spotify and Zynga. As a contributor to Y Combinator startups, though, it’s clear that DST is not just about the obvious heavy-hitters.

In addition to the funding, Twitter brought us up to speed with several of the company’s milestones:

--A year ago: 65 million tweets posted per day. Today: 200 million tweets posted per day.
--A year ago: 150K registered Twitter apps. Today: over one million apps.
--A year ago: 250 employees. Today: over 600-strong.
--Oh, and the company finally has some official office space in New York City.


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Description: What is Twitter? Twitter is an online information network that allows anyone with an account to post 140 character messages, called twee...

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