The popular website has been valued at $1 billion.
Press Release Service – Wired PR News – Twitter has reportedly been valued at $1 billion. As reported by the Associated Press (AP), a major investment into the company has boosted its value, despite it not yet earning significant revenue.
New York based technology investment banker, Ken Marlin with Marlin & Associates, is quoted by the AP as stating of the company’s move to obtain financing, “This is a smart move by Twitter because it buys them more time to capitalize on their momentum and come up with a business plan.”
Twitter founder Evan Williams is further quoted as stating in a blog posting on Friday, “It was important to us that we find investment partners who share our vision for building a company of enduring value… Twitter’s journey has just begun and we are committed to building the best product, technology, and company possible.”
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