Twitter Has Apparently Raised $800 Million And Is Now Worth $8.4 Billion

Posted: Aug 2 2011, 7:52am CDT | by , in News | Technology News

Twitter has apparently raised $800 Million and is now Worth $8.4 Billion

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Twitter announced a "significant" investment from a Russian investment group led by Digital Sky Technologies. Rumors say the investments is $800 million.

Twitter has closed what the company calls a "significant" investment. Rumors have that Twitter got a huge cash infusion of $800 million bringing the current evaluation of Twitter to $8.4 billion according to the Wall Street Journal.

The investment comes from a investment consortium led by Russian Digital Sky Technologies. These guys also already put $400 million into Facebook a couple years ago. Half of the money is going to buy shares of existing holders and the other half is going to be invested into Twitter's operation. Twitter plans to agressively innovate, hire more great people and invest in international expansion according to a post on the Twitter blog.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
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