Micro-blogging startup Twitter has been looking to become a major force online for quite some time now as it works out ways to generate revenue form its huge user-base. It has also tried to hold on to shares for as long as it can and is still stopping talent that joined the firm early from selling shares. However, those employees may not be in too bad of a position because a recent valuation of the firm has placed the company at a valuation of over $9 Billion. The number was revealed on Friday, February 1 when it was reported that BlackRock (BLK) was buying $80 million of Twitter stock. The purchase would come only from a few early employees and not investors. It has also come to light that there are more employee shares up for grabs and the latest valuation for Twitter will be $9.9 billion.
After Twitter saw the large sell offs from Facebook employees, the micro-blogging site has tried to prevent as many employees from selling as possible. That is why the nearly $10 Billion valuation carries a premium to prevent any moves by Twitter to block sale of shares. At this point there are no details available on how many shares are available for sale or who is interested in buying them.
Twitter has grown in to one of the largest sites on the internet with a staggering 400 million monthly visitors and a whopping 200 million monthly active users globally.
Source: CNN
Upside Foundation of Canada Declared a Charity By Charities Directorate of the Canada Revenue Agency
Canadian Firm Vestec Successfully Raises $1.5 Million From the Ex-CEO and Founder of MModal
Lunches So Good Kids Can’t Ignore Them
Invigorating Ginger Smoothie
The U.K.’s Youngest Parents Ever
The new hair Jennifer Lawrence