Twitter To Close $800M Round Of Funding In Two Weeks

AllThingsD is reporting that Twitter is set to close a $800 million round of funding within the next two weeks, which would put the company’s valuation at $8 billion – over double it’s December 2010 valuation of $3.7 billion.

The $800 million would be split basically in half, with Twitter itself receiving $400 million as an investment and using the other $400 million to cash out current investors and employees.

AllThingsD is citing several sources as saying that this transaction will be complete in about two weeks:

“Along with basic funding needs, this is largely being done this way to give those with stakes in the San Francisco microblogging company an ability to monetize their privately held common stock and also to do this selling in a more organized — and legal — manner.

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