Twitter Value Pushed To $4 Billion By Investors
Venture capitalist John Doerr, determined to own a piece of the microblogging service, is at the center of a bidding war.
Twitter is at the center of a venture capital bidding war that has propelled the microblogging company's valuation to a reported $4 billion or so.
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With John Doerr at the helm, Kleiner Perkins leads the pack of profferers, according to TechCrunch. Digital Sky Technologies (DST), a Russian Internet holding company run by three partners, reportedly offered more than $3 billion, TechCrunch said. In November, DST CEO Yuri Milner said Twitter met the company's "investment criteria," but declined to go into further detail, according to Business Hallmark.
DST owns about 10% of Facebook and, in April, led a $135 million investment round in Groupon, which was acquired by Google on Tuesday. Reportedly, Twitter also was fielding acquisition offers from Facebook and Google.
But when it came to Twitter, Doerr apparently was adamant that he would not repeat history. After all, perhaps one of the biggest regrets of the successful venture capitalist's professional's life was his decision not to invest in the startup Twitter. When it came to that decision, "We were wrong," he has said.
"Doerr wants to own part of Twitter, And Doerr generally gets what he wants," a person with knowledge of the negotiations told TechCrunch.
Although another investor could enter the picture with an even higher valuation, Kleiner Perkins apparently is in a strong position to soon become the next Twitter investor, according to TechCrunch.
Only a few days ago, Twitter's value was viewed uncertainly, as top executive Dick Costolo openly voiced the challenge of determining Twitter's future direction.
As Twitter prepares for another infusion of cash, the company also gets set for a new face on its board with the appointment of Peter Currie as a director, according to AllThingsDigital. Currie, who is president of investment firm Currie Capital, was CFO of Netscape, temporary CFO of Facebook, and CFO of McCaw Cellular Communications.
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