July 6, 2011 / 1:29 PM / 7 years ago

Twitter seeking another round of funding: report

SAN FRANCISCO (Reuters) - Microblogging service Twitter is seeking to raise “hundreds of millions of dollars” in a new funding round, according to the Wall Street Journal.

The new round values the company at as much as $7 billion, the newspaper reported, around the same as recent transactions in Twitter stock on the secondary market.

“We don’t comment on our finances or speculation about our finances,” said a spokesman for Twitter.

In December, the company raised $200 million in a round led by venture-capital firm Kleiner Perkins that valued the firm at $3.7 billion. In February, venture-capital firm Andreessen Horowitz invested $80 million in Twitter through purchases on the secondary market that valued the company at about $4 billion.

Reporting by Sarah McBride and Alexei Oreskovic

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