'Investment deal' values Twitter at €681m

Micro-blogging sensation Twitter is to secure a cash injection from investors valuing the business at $1bn (€681m), it was reported today.

The popular online messaging site is thought to have lined up $100m (€68m) in financing, according to the Financial Times.

This would value the firm at $1bn (€681m), even before it earns its first meaningful revenues.

Twitter, which allows users to post messages of up to 140 characters in length over the internet or on mobile phones, is thought to have secured the backing of a consortium of new and existing investors for the deal.

The valuation of the business is four times that of an investment earlier this year, an indication of the growing popularity of the site.

In February the website raised $35m (€23.9m) in a deal that valued the business at around $250m (€170m).

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