IN A major breakthrough for Twitter Inc, the company has received a major boost as it’s said to have received an investment of around the 800 million dollars mark. The funding has been led by Digital Sky Technologies, which is primarily an international investment firm. It especially focuses on the Internet sector. This investment is great news for Twitter, which has a staff of around 600 employees. Twitter, in its blog post stated that, “We will use these resources to aggressively innovate, hire more great people and invest in international expansion.
Digital Sky Technologies is said to have invested around 400 million dollars, which could probably lead the firm for a 5 per cent stake in Twitter.Various other companies such as Price Group Inc, JPMorgan Chase and Co added the rest of the 400 million dollars. As per media reports half of the money would go towards the company and the rest of it should be used to cash out its present investors and employers.
Twitter has been one of the most popular social networking sites, which was started in the year 2006. Twitter has around 200 million user accounts throughout the globe. Whereas Digital Sky Technologies has always been very active when it comes to investing in social networking sites as it invested $200 million in another popular networking site, Facebook. At present the firm is one of the largest shareholders in Facebook. The firm would also like to be one of the largest shareholders in Twitter too.