Confirming weeks of speculation, Twitter announced in a blog post Monday it has closed on a “significant” amount of new funding led by Russia-based venture capital firm DST Global with the participation of its existing investors.
The specific amount raised has not been disclosed, and no regulatory documents with the Securities and Exchange Commission appear to have been filed pertaining to the new funding.
Rumors of a massive new funding round for Twitter have been floating around for weeks. In early July, The Wall Street Journal reported that the company was in the process of closing on new funding that would value the company at $7 billion. Later that month, AllThingsD reported that Twitter was closing on $800 million in new funding at an $8 billion valuation, and that half of that round would be earmarked to cash out early employees and investors. Not surprisingly, the big numbers have led some to question whether Twitter is helping to inflate another “bubble” in the tech industry.
Twitter accompanied the funding news with some impressive growth figures. The blog post reads:
Just a year ago, we delivered 65 million Tweets a day. Today, we generate over 200 million Tweets per day. One year ago, there were approximately 150,000 registered Twitter apps. Now, there are more than one million that connect to Twitter. And our team has grown from 250 people to more than 600 in the past 12 months.
Twitter says it will use the funds to “aggressively innovate, hire more great people and invest in international expansion.”