Report: Twitter in talks to raise new funding round that would make it worth $3 billion
Facebook's Mark Zuckerberg may have stolen the show Tuesday night at the Web 2.0 Summit in San Francisco. But the Internet sensation on everyone's minds and lips was Twitter.
The much-discussed (and tweeted) San Francisco company that runs the popular information-sharing service is said to be exploring raising another round of funding. Its last one valued the company at $1 billion, which in this booming (or bubbly, take your pick) environment, has become the Silicon Valley equivalent of chump change, with secondary-market trading of Facebook hitting $41 billion and funds buying Twitter shares from employees at a valuation of $1.6 billion and higher.
Now TechCrunch's Michael Arrington is reporting that investors are duking it out to lead the round which would value Twitter at $3 billion. Yuri Milner’s DST, which invested in Facebook, Groupon and Zynga, is champing at the bit, but apparently there are others just as motivated.
Also still cycling the rumor mill: that Google would buy Twitter for up to $5 billion.
Twitter co-founder Evan Williams speaks Wednesday at Web 2.0. Stay tuned.
-- Jessica Guynn