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Report: Twitter in talks to raise new funding round that would make it worth $3 billion

November 17, 2010 | 10:15 am

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.

RELATED:

Facebook's Mark Zuckerberg puts "The Social Network" behind him, talks about the future

Facebook's Russian investor Yuri Milner talks strategy, not Twitter

-- Jessica Guynn

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