Twitter is close to securing $100 million in new funding, the Wall Street Journal is reporting. Mutual fund T. Rowe Price and private equity firm Insight Venture Partners are said to be the new investors in the micromessaging site. Spark Capital and Institutional Venture Partners, who have previously invested in the San Francisco, Calif.-based company, are also said to be participating in the funding round.
Twitter doesn’t generate revenue — and hasn’t yet hammered out a business model — but the aforementioned investors are valuing it at around $1 billion, the Journal reports. Twitter has raised $55 million thus far.