Turns out Twitter is raising even more money in its new funding round than previously reported. The company is close to raising $100 million at a $1 billion valuation, the WSJ reports. The deal is expected to close today. Investors include mutual fund giant T. Rowe Price, along with Insight Venture Partners. Existing investors Spark Capital and Institutional Venture Partners are also participating.
There were several reports last week that Twitter was looking to raise a relatively more modest $50 million. Twitter had last raised money in February — when it got $35 million in a third round, which valued the company at $250 million.
If it does raise $100 million, the microblog will have now raised a total of $155 million.
We’ve reached out to Twitter for comment and will update if we hear back.
Staci adds: 37Signals CEO Jason Fried skewers the fundraising/valuation hype with this “press release” announcing his company’s $100 billion valuation after “bold VC investment”: “Once you have profits, it