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September 9, 2011 05:49 am GMT
Twitter CEO Dick Costolo confirmed its first $400 million tranche of a $800 million Series G this morning, saying that the company has just closed "more money than I've ever seen before" and therefore was in no hurry to IPO.The entire series G, which involved Yuri Milner's DST, institutional clients, T Rowe Price's group of funds, Chris Sacca and others, was split into two parts, the first $400 million going directly to Twitter for preferred shares and the second $400 million used to buy out employees and existing shareholders. The financing values the company at ~$8 billion and ~$16 a share.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ClIJDudkauY/
Twitter Closing Its $400M Secondary Offering Tomorrow
Twitter CEO Dick Costolo confirmed its first $400 million tranche of a $800 million Series G this morning, saying that the company has just closed "more money than I've ever seen before" and therefore was in no hurry to IPO.The entire series G, which involved Yuri Milner's DST, institutional clients, T Rowe Price's group of funds, Chris Sacca and others, was split into two parts, the first $400 million going directly to Twitter for preferred shares and the second $400 million used to buy out employees and existing shareholders. The financing values the company at ~$8 billion and ~$16 a share.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ClIJDudkauY/
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