Twitter, the service that lets people send out messages in 140 characters or less, is raising funding that pegs its value in the billions of dollars, reports Bloomberg.
The company is in discussions to raise hundreds of millions of dollars from investors, the piece notes. The new valuation is $7 billion, meaning that Twitter’s value has almost doubled since December, when a $200 million investment placed its worth at $3.7 billion.
Just in 2009, Twitter was valued at $1 billion, the article notes. A spokesman for Twitter declined to comment.