All of a Twitter
Twitter has completed a ‘significant' round of funding and has added 2 new members to its board to coincide with its announcement of 100m new account members using the service this year.
In the past 12 months, Twitter users have sent a staggering 25bn tweets, while the Twitter team has expended from 130 to over 350 employees, according to the company's blog.
The WSJ, reported that Twitter has raised $200m at a $3.7bn valuation and the lead investor, as revealed in the blog, is Kleiner Perkins, a Silicon Valley venture firm.
Mike McCue of Flipboard and David Rosenblatt, who was head of DoubleClick have also joined Twitter's board.
Twitter's CEO, Dick Costolo is reportedly rapidly upgrading the site's business model and management in a bid to stay ahead of the game.
The WSJ reckons McCue's connections will add to the firm's innovative and entrepreneurial clout, while Rosenblatt will bring some ‘much-needed online advertising heft'.
Kleiner is believed to be the sole new investor in the latest round of fund raising and Twitter is thought to have raised a total of $360m since it was founded just 5 years ago.
The WSJ reported that Kleiner has been moving aggressively into the Web 2.0 space recently and stumped up a massive $150m in this latest fund raising round, with the remaining $50 apparently coming from current investors.
Past investors reportedly included a handful of angel investors and venture firms such as Benchmark Capital, Spark Capital and Union Square Ventures.
