Twitter’s Worth Reaches $8.4 Billion After Funding

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?

Photo Courtesy of Rosaura Ochoa
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Apple Inc. Richer Than The United States Government ?

It is a well known fact that Apple Inc. has cash reserves more than any other company but the fact that it is even richer than the United States Government is absolutely fantastic.

Recently Apple announced that its earnings have reached $76 billion due to large sale of its iDevices. The iPhone and the iPad are the most popular products of the Cupertino, California based company.

On the other side, as the deadline to the US debt approaches close, the Treasury Department of United States Government has reported that its bank account has even less than $74 billion and could become zero by early August.

This only shows that the American government and the Corporate America are two worlds apart. While the corporations continue to grow and their combined profits accumulate around $1.2 trillion, the government consistently has lost its cash reserves and its debts are increasing day by day.

According to Apple, these cash reserves will help the company to secure its future as it will ensure that they do not run into any financial trouble like the company had to face during the launch phase of the iPhone 4.

So, should American government start selling the iPhone and the iPad or should Apple take over the running of Washington DC?

Photo Courtesy of Chris and Kris
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