Investors Pour $200M into Twitter
Twitter has collected another $200 million in financing, more than doubling its venture pot, according to a blog post yesterday from CEO Dick Costolo. New investor Kleiner Perkins Caufield & Byers led the large round, which was joined by existing investors. Costolo also said that Mike McCue, CEO of Kleiner Perkins portfolio company Flipboard, and Doubleclick CEO David Rosenblatt have joined Twitter’s board. In previous funding rounds Twitter had raised $160 million from Insight Venture Partners, Institutional Venture Partners, Spark Capital, T. Rowe Price, and other investors. Union Square Ventures, an early investor, did not join the round. According to numerous media reports (such as this one from Reuters), Twitter’s valuation in the new round was pegged at $3.7 billion.