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Tuesday
Jul052011

Could Twitter Be Worth $7 Billion?

SAEED KHAN/AFP/Getty Images(NEW YORK) -- Twitter could be worth up to $7 billion, according to The Wall Street Journal.  The company is raising millions in a new financing move.

The new rounds of financing could yield hundreds of millions of dollars and value the company as high as $7 billion, but it remains unclear who is investing in Twitter.

Seven months ago Twitter, whose unique users have grown to 139 million from 90 million last year, raised $200 million from venture-capital firm Kleiner Perkins Caufield & Byers, which then valued it at $3.7 billion.

The Wall Street Journal reports that Twitter's effort to raise such a large sum of money will allow it more time to build up an ad-based revenue generator.

The fast-growing social media site is on-pace to generate $150 million in ad revenue this year, according to internet market researching firm, eMarketer.

Copyright 2011 ABC News Radio

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