06 Mar '11, 2am

Twitter share auction suggests US$7.7b valuation (via ST iPhone App)

Twitter share auction suggests US$7.7b valuation (via ST iPhone App)

A recent auction of Twitter shares on the secondary market suggests investors value the company at US$7.7 billion (S$9.8 billion). -- PHOTO: AP SAN FRANCISCO - A RECENT auction of Twitter shares on the secondary market suggests investors value the company at US$7.7 billion (S$9.8 billion), more than twice the valuation the Internet microblogging service garnered in a December funding round. Investors have agreed to pay US$34.50 a share for Twitter in the auction conducted by Sharespost, an exchange for private company shares that announced the news on Friday Based on the 223.7 million estimated fully diluted shares of Twitter listed by Sharespost on its website, the deal would suggest a valuation of roughly US$7.7 billion. Valuations of privately-held Web companies have surged in recent months as investors scramble to buy stakes in companies that many hope could turn out t...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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