Micro-blogging site Twitter gets more funding

September 25, 2009 10:06:18 AM PDT
Twitter Inc. says it has raised another large amount of money to finance its operations until its management figures out how to make money from one of the Internet's hottest communication tools. CEO Evan Williams didn't specify a dollar figure in a Friday blog posting.

Both The New York Times and The Wall Street Journal have reported that Twitter planned to get $100 million in a deal valuing the 3-year-old company at $1 billion -- even though it has no meaningful revenue.

Twitter has attracted 54 million users, who use the service to share their thoughts, Web links and other information in messages no longer than 140 characters. Before the most recent round of investment, the San Francisco-based company had already raised $55 million.