Is Twitter Really Worth $10 Billion?
Twitter has been in the news recently due to a hack of Twitter servers that apparently left around 250,000 accounts compromised.
This bad news doesn't seem to have impacted their valuation though, as Fortune revealed that the company is currently on the verge of cresting the $10 billion mark.
On Friday it emerged that BlackRock was buying a hefty chunk of shares at a price that valued the social network at just over $9 billion. The only possible sellers were early employees that were given permission by the company to sell their shares.
Fortune suggests, however, that this trend is not done yet, and that more employees are to be allowed to sell their own shares shortly, and that when this happens the valuation will creep up to $9.9 billion.
The shares would be secured by a fund affiliated with Gentry Venture Partners, which has been pitching the deal to clients.
Given the stark lessons provided by Facebook over the past year, Twitter will no doubt be mindful of handling this process carefully. Nevertheless, the valuation of nearly $10 billion is very interesting, especially for a company with little revenue to speak of.
What are your thoughts? Is Twitter really worth $10 billion?