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Twitter Valued at $3.7 Billion in Funding

Micro-blogging
service Twitter Inc. said it has raised a round of funding that valued
the company at $3.7 billion, becoming the latest Web start-up to attract
a multibillion-dollar valuation.

The $200 million infusion was led by venture capital firm Kleiner
Perkins Caufield & Byers, a Twitter spokesman said. The
three-year-old company has now raised about $360 million from numerous
venture firms including Benchmark Capital and Union Square Ventures.

In a post on the company’s blog Wednesday, Twitter Chief Executive
Dick Costolo said two individuals were joining the company’s board: Mike
McCue, chief executive of start-up Flipboard; and David Rosenblatt, who
previously ran DoubleClick, an online advertising company acquired by Google Inc. three years ago.

Read more: wsj

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