How much are 140 characters worth? In the case of Twitter, which received a new round of funding led by venture capital firm Kleiner Perkins Caufield & Byers, it’s now valued at $3.7 billion, Bloomberg News reports.
The social-networking service, which has more than 175 million users, can use the new round of financing to hire more staff for its advertising service, the story says.
The company, which started in 2006, has more than 350 employees, compared with 130 staff a year earlier.
When Twitter raised $100 million in Sept. 2009, the round of financing led the company’s valuation to be placed at about $1 billion, the article notes.