Twitter raises $200 million, now valued at $3.7 billion

By Aemon Malone December 16, 2010

Twitter finds itself with an extra few bucks to spend thanks to a $200 million dollar fundraising effort that valued the company at $3.7 billion. That’s still a ways below Facebook’s $45 billion estimated value, but still nothing to scoff at — Twitter is only a year into its first serious attempts to become profitable, after all.

Twitter’s new funding comes after a closely watched bidding war between famed venture capital firm Kleiner Perkins Cauflied & Byers and Russian firm DST. In the end, Kleiner won out, pushing the Twitter’s valuation close to $4 billion.

In addition to the funds, the micro-blogging site has also added experience in the form of two new board members: Mike McCue, CEO of Apple’s beloved app developer Flipboard; and former DoubleClick executive David Rosenblatt.

What might Twitter be thinking of doing with all the extra cash on hand?Well, so far the company hasn’t officially said what it plans to do. One possibility, according to the Irish Times, would be to expand operations outside of the U.S. by opening up in either Dublin or Ireland. Twitter executives met with British Prime Minister David Cameron fueling the rumors that Twitter may try to reach across the pond in the near future.

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