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Twitter confirms ‘significant’ round of funding led by Russian investment company

Twitter has confirmed it has received “significant funding” from Yuri Milner’s DST Global. While the micro-blogging site did not outline the size of investment led by the Russian investment company in a blog post, reports put the deal at $400m plus another $400m in secondary funding. Twitter plans to use the funding for product development, hiring and international expansion. Twitter published on the blog: “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. “We will use these resources to aggressively innovate, hire more great people and invest in international expansion.” Twitter continues to grow around the globe at a record pace. Just a year ago, it delivered 65m tweets a day. It currently generates more than 200m tweets a day.

via telegraph: Twitter confirms ‘significant’ round of funding led by Russian investment company

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