| Log in

Andreessen Horowitz Sinks $80M In Twitter

10 February, 2011

Influential venture capital outfit Andreessen Horowitz has invested $80 million in microblogging phenomenon Twitter, adding to its growing portfolio of social Web names.

The venture capital firm bought Twitter stock on secondary markets for private firms a few weeks ago, joining Kleiner Perkins and other high-profile investors in a four-year-old website that allows users to send 140-character messages, or “tweets”.

A spokeswoman confirmed the transaction on Wednesday but would not comment on what sort of valuation it gave the hot start-up. Twitter joins Facebook, Foursquare, Zynga, Skype and Groupon in the venture capital house’s portfolio.

The investment Netscape co-founder Marc Andreessen’s venture capital firm follows a $200 million financing round in December led by Kleiner Perkins Caufield & Byers, which valued Twitter at $3.7 billion.

Twitter, which had 175 million users as of September, is among a new crop of fast-growing Internet social networking services. Others include gaming outfit Zynga and Facebook, the world’s No. 1 Internet social networking company with a current valuation of about $50 billion.

Twitter chief executive Dick Costolo, the architect of its new advertising efforts, is said to be prioritizing money-making ahead of an IPO in coming years, but the company has yet to offer any public glimpses into its finances.


Leave Your Comment
Netscape's Andreessen And Horowitz Form VC Fund

Netscape’s Andreessen And Horowitz Form VC Fund

Reuters 8 years ago
 Well-known Internet entrepreneurs Mark Andreessen and Ben Horowitz have...
Groupon Raises $950M In Financing

Groupon Raises $950M In Financing

Reuters 7 years ago
Web advertising firm Groupon Inc, announced on Monday that it has completed a ...
Twitter Financing Values Company At $3.7Bn

Twitter Financing Values Company At $3.7Bn

Reuters 7 years ago
Twitter has raised $200 million of financing in a deal that values the...
No Comments

Andreessen Horowitz Sinks $80M In Twitter

Powered by WordPress.com VIP