Twitter Is a Billionaire

1BillionDollars.jpgTwitter CEO Evan Williams told employees at a recent meeting that the social-networking site reached a private venture-round valuation of $1 billion, several sources told TechCrunch.

Twitter raised more than $35 million in a round led by Benchmark Capital and Institutional Venture Partners earlier this year, which valued the company at $250 million, according to TechCrunch. It has raised a total of approximately $55 million, with some $30 million of that still in the bank.