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Twitter now worth $7.14m per character

By Tim Bradshaw in London and David Gelles in San Francisco

Published: September 24 2009 19:37 | Last updated: September 24 2009 19:37

Twitter is set to secure a $1bn valuation from investors before it earns its first substantial revenues after the micro-blogging site raised $100m in new funding.

Insight Venture Partners, the New York venture capital firm, is leading a consortium of new and existing investors in the fast-growing communications network, according to a person close to Twitter. The website allows more than 30m members to post 140-character updates on the web or by mobile phone.

http://www.ft.com/cms/s/0/641057ae-a933-11de-9b7f-00144feabdc0.html?nclick_check=1