Twitter to sign US$100m investment deal
The Twitterverse is a tweet with news Twitter is set to boost its value to US$1 billion through a deal with seven investors who are in negotiations to investment US$100 million into the social networking site.
The investors are believed to include mutual fund giant T.Rowe Price and private equity firm Insight Venture Partners. Both have previously invested in Twitter.
Despite the boom in the site’s popularity it is still lagging behind Facebook’s 300 million users at 30 million. TNS Research Strategy Director Jonathan Sinton said at the Digital Now New Zealand 2009 conference held in Auckland this week that the youth of the world had not embraced Twitter as they had Facebook and Bebo.
The deal is set to close today.