Twitter gets valued at $3.7 billion

December 17th, 2010 - 1:24 am ICT by Aishwarya Bhatt  

San Francisco, Dec 16 (THAINDIAN NEWS) The popular social networking and micro blogging site Twitter has been valued at $3.7 billion. The valuation came after it received a major shot in the arm in the form of a $200 million investment by the VC firm Kleiner Perkins Caufield & Byers.

The company officials also revealed that they have got 2 more directors onto their board now, in the form of Mike McCue and David Rosenblatt. It may be recalled that Mike is the CEO of Flipboard and David used to be the CEO of DoubleClick Incorporation. Besides that he also used to be a president at Google.

“The additional resources and expertise will be extremely helpful as Twitter continues to grow as a company and business,” according to Twitter CEO Costolo. It may be recalled that recently there was a major shakeup in the top management of Twitter and co-founder Evan Williams stepped down from the CEO post to make way for Costolo.

At the moment, Twitter is very popular and the numbers also prove that. It has more than 175 million users all over the world who post their status updates on the site and stay in touch with their friends and acquaintances.

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