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<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published September 26, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>A firm with 60 staff and US$1b market cap
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(San Francisco)
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</TD></TR><TR class=caption><TD>AD DOLLARS
Twitter is experimenting with running ads on its website but has no plans to run them widely until 2010, says Mr Stone</TD></TR></TBODY></TABLE>TWITTER, which has no discernible revenue, is set to raise about US$100 million of new funding that would value the company at around US$1 billion, a person briefed on the company's plans said on Thursday.
For context, that is almost double the market capitalisation of Domino's Pizza, which has 10,500 employees and had US$1.4 billion in sales last year.
Twitter has some 60 employees, and although it is experimenting with running advertisements on its website, Biz Stone, a Twitter founder, said this week at an industry conference that the company had no plans to begin widely running ads until 2010.
In its 31/2 years, Twitter has become a magnet for media attention, and its website now attracts 54 million visitors a month, according to comScore, the tracking firm.
Along with Facebook, it is helping to remake the Web as a forum for the perpetual sharing of even the most trivial bits of information about people's lives.
'There have probably been less than five examples of companies that have grown like Twitter has,' said John Borthwick, the chief executive of Betaworks, which created the link-shortening service bit.Iy. He lists Google and Facebook as other examples. Twitter 'represents a next layer of innovation on the Internet', he said.
The new investors include Insight Venture Partners, a venture capital firm based in New York; T. Rowe Price, the mutual fund company, which is not normally known for placing such bets; and the current Twitter backers Spark Capital and Institutional Venture Partners.
Twitter does not appear to need capital. It previously raised US$55 million and has said it still has US$25 million of that in the bank. -- NYT
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>A firm with 60 staff and US$1b market cap
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right></TD><TD>Feedback</TD></TR></TBODY></TABLE>(San Francisco)
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</TD></TR><TR class=caption><TD>AD DOLLARSTwitter is experimenting with running ads on its website but has no plans to run them widely until 2010, says Mr Stone</TD></TR></TBODY></TABLE>TWITTER, which has no discernible revenue, is set to raise about US$100 million of new funding that would value the company at around US$1 billion, a person briefed on the company's plans said on Thursday.
For context, that is almost double the market capitalisation of Domino's Pizza, which has 10,500 employees and had US$1.4 billion in sales last year.
Twitter has some 60 employees, and although it is experimenting with running advertisements on its website, Biz Stone, a Twitter founder, said this week at an industry conference that the company had no plans to begin widely running ads until 2010.
In its 31/2 years, Twitter has become a magnet for media attention, and its website now attracts 54 million visitors a month, according to comScore, the tracking firm.
Along with Facebook, it is helping to remake the Web as a forum for the perpetual sharing of even the most trivial bits of information about people's lives.
'There have probably been less than five examples of companies that have grown like Twitter has,' said John Borthwick, the chief executive of Betaworks, which created the link-shortening service bit.Iy. He lists Google and Facebook as other examples. Twitter 'represents a next layer of innovation on the Internet', he said.
The new investors include Insight Venture Partners, a venture capital firm based in New York; T. Rowe Price, the mutual fund company, which is not normally known for placing such bets; and the current Twitter backers Spark Capital and Institutional Venture Partners.
Twitter does not appear to need capital. It previously raised US$55 million and has said it still has US$25 million of that in the bank. -- NYT
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