Twitter confirms further funding boost

Twitter has confirmed that it has closed a "significant round of funding". Co-founder Evan Williams said in a blog post that the site had secured money from five investment firms. The companies are: Insight Venture Partners, T. Rowe Price, Institutional Venture Partners, Spark Capital, Benchmark Capital, and Morgan Stanley. However, he did not confirm earlier reports that suggested the firm had managed to secure $100 million (£62m), which would value the firm at $1bn. Williams wrote: "It was important to us that we find investment partners who share our vision for building a company of enduring value. Twitter's journey has just begun and we are committed to building the best product, technology, and company possible. I'm proud of the team we've built so far and I'm confident in the future we'll build together." It is understood the firm, which has just 100 staff, is likely to use the money to increase the scale of its service. The site had previously raised $35m in February in a deal that valued the business then at $255m.
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