Twitter not in search of new round of funding

18 Nov 2010

Twitter co-founder Evan Williams has given public assurances that the popular social networking site is not short on money, despite media claims that Twitter is seeking a new round of financing.

Williams made assurances that Twitter has money in the bank and noted the site was in talks with Facebook about ways to work together, according to Reuters.

Though another round of funding has been ruled out by Evans, the prospect will no doubt have the attentions of investors around the world.

One such company is Russian technology firm DST Global, according to TechRadar, who reported that Twitter is looking to raise more than US$100m after valuing the company at US$3bn.