Tweet Success: Twitter Nearing $1 Billion - NBC4 Washington

Tweet Success: Twitter Nearing $1 Billion

Private company's value up four-fold in '09: Report

    Winter Olympics PyeongChang 2018 Medal Count
    Country
    Total
    1
    Norway
    13141138
    2
    Germany
    138728
    3
    Canada
    118928
    processing...

    NEWSLETTERS

    Mother of Five Scared Straight After Heart Attack in her 40s
    Twitter is worth $1 billion, according to a new report.

    Twitter, the San Francisco startup that lets Kanye tweet apologies and everyday people post their thoughts and doings, is about to become the latest billion dollar social networking site.

    The company behind the 140-character craze just raised $50 million, an investment that places its total value at $1 billion, TechCrunch reports. That number is up from a value of $250 million earlier this year.  Twitter is privately held, but its value can be extrapolated from how much investors pay for stakes in it.

    Twitter was co-founded in 2006 by New York University dropout Jack Dorsey, along with Biz Stone and current CEO Evan Williams.  Although official numbers are unavailable, TechCrunch estimates that Twitter has 25 million users.

    Despite Twitter's rapid rise, compared to Facebook and MySpace, the social networking giant still has room to grow.  Last year, Business Week estimated that Facebook was worth as much as $5 billion.  MySpace was bought by Rupert Murdoch's Fox Interactive in 2005 for $580 million, a fraction of its likely current value.