The micro blogging giant has become a $8.4 billion company due to a “significant” round of funding from companies worldwide. Digital Sky Technologies, a Russian firm known for its investment in various social networking sites has contributed a “generous amount” to Twitter.
Officially, no financial details were disclosed but if insider claims are taken into account, the San Francisco based social networking giant raised nearly $800 million which was rounded to $8.4 billion after the deal.
It was also said that Twitter will take 50% of this investment and the rest will be spent for buying the shares of the existing share holders.
Twitter has nearly 600 employees and seeing the success rate of this social network, we won’t be surprised if we see more investments like this in future.
After the launch of Google+, Facebook’s competition with Twitter was sort of finished. As Facebook and Google+ are fighting continuously for the crown of best social network, Twitter played a smart game by staying out of their fight.
Though Twitter is not big as both Facebook and Google, still its growth rate shows that it could beat them in a couple of years if it keeps on growing at a fast pace.
Will Twitter introduce some new features if it keeps on securing huge investments like this?