Twitter Acquires Additional Funding

Despite the fact that it exploded on to the scene and has become one of the most popular websites in the world, Twitter has still not managed to figure out its business model. A new deal that could get Twitter as much as $100 million, though, may give the website the time it needs to become profitable.

The funding would come from an investor group that includes mutual-fund giant T. Rowe Price Group Inc. and private-equity firm Insight Venture Partners, both of which have not yet invested any money into Twitter. Existing Twitter investors are also expected to participate in this forthcoming round of Twitter funding.

Twitter has not yet generated any revenue, but that has not stopped this group of investors from valuing the popular microblogging website at $1 billion. The company itself has not yet responded to any of the speculation surrounding the valuation, which is three times as large as the value assigned to Twitter in its last round of funding.

Image: Flickr