In its latest round of funding, Twitter's CEO Dick Costolo said that the microblogging site is valued at $8 billion. Costolo made this announcement at the Web 2.0 event in San Francisco. He added that the valuation comes from the company recently raising $800 million in a two stage funding round and that Twitter is not looking at an IPO in the short-term. Costolo said, "I want the company to go public when the company is ready and prepared to be a public company, and not at the whim of some window."
Worth $8 billion
Twitter now sees 250 million tweets on any given day as opposed to 100 million tweets that it got everyday in early 2010. The social network has 100 million active users and about half of them log in every single day. The company is focusing on developing mobile presence which is growing 40% in each quarter. Twitter sign ups have increased since Apple's release of iOS 5 which has built in Twitter integration. Finally, Costolo said that Twitter has no plans in reconnecting with Google and providing tweets in real time search results. The two parties didn't reach an agreement on those terms.
Published Date: Oct 19, 2011 05:09 pm | Updated Date: Oct 19, 2011 05:09 pm