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Twitter nearing completion a new round of financing of $50 mln
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10:05, September 17, 2009

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Twitter is nearing completion a new found of financing of 50 million U.S. dollars, which makes the value of this micro-blog site rise to 1 billion U.S. dollars, according to Reuters report.

Evan Williams, CEO of Twitter, said this to his employees on Wednesday. He also revealed that the company had completed its first financing on this February and its value was estimated to reach 250 million U.S. dollars at that time.

Like other social networking sites, Twitter has being withstood the pressure to prove that it has commercial value and hopes to go public or be purchased. The new round of financing will effectively boost the confidence of investors.

Facebook has said earlier the company had achieved a positive cash flow.

By People's Daily Online

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