Monday, January 26, 2009

Twitter valued at $250M

By Galen Moore

Twitter Inc. has raised new venture capital financing and a $250 million valuation, according to published reports. Twitter’s last round, in June, was worth $15 million, and brought in Jeff Bezos’ Bezos Expeditions and Cambridge-based Spark Capital.

The new round will add California-based Institutional Venture Partners to Twitter’s investor group, the website TechCrunch reported, citing unnamed sources. It was unclear whether Spark planned to return to participate in the round. The report did not specify how much the new round will be worth to the California-based operator of the micro-blogging and social media site Twitter.com.

Twitter’s June round, the company’s third, brought in $15 million, and upped Twitter’s total investment backing to $20 million.

Spark general partner Bijan Sabet holds a seat on Twitter’s board of directors.