Twitter Secures $800 Million, $8 Billion Valuation

By Sajid Farooq
|  Monday, Aug 1, 2011  |  Updated 10:20 AM PDT
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Twitter Secures $800 Million, $8 Billion Valuation

Twitter has a lot more money and a much higher valuation today than it did just last week.

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So what if Twitter hasn't figured out how to make money, investors don't seem to care.

The San Francisco based micro-blogging site wrote Monday morning that it has received "significant" new funding from existing investors and Russia's DST Global.

"We’ve come very far in a short time. Now we have an opportunity to expand Twitter’s reach with a significant round of funding led by the venture firm DST Global, with the participation of several of our existing investors," Twitter wrote on its corporate blog Monday. "We will use these resources to aggressively innovate, hire more great people and invest in international expansion."

The blog post does not say how much funded it secured by All Things D reports it will total $800 million, with $400 million going towards chasing out employees and shareholders.

The total investment puts Twitter's valuation at an estimated $8 billion.

There are over 200 million tweets sent a day by and there are more than one million registered apps that connect to Twitter.

The company has grown its staff from 250 employees to 600 in the past year.

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