Twitter could be valued at almost $4bn

1 Dec 2010

Twitter may soon be valued at almost $4bn, thanks to a bidding war which has seen many companies submit offers to invest in the site.

While Twitter previously denied it was searching for a new round of funding, according to TechCrunch, companies such as the Russian technology firm DST Global have made offers to invest in Twitter.

Reportedly, the company’s value has been pushed past $3bn. The valuation, by the time the bidding ends, has been estimated to be almost $4bn.

The likely winner was said to be Kleiner Perkins, a Silicon Valley venture capital firm, which was an early investor in Amazon, AOL and Google. However, the bidding is not over yet, so someone could surpass Kleiner.

This latest social-networking valuation comes just after Facebook’s value was said to be pushed up to $50bn.