Twitter is worth an estimated $7.7 billion

The short messaging service Twitter is worth an estimated $7.7 billion. This was revealed by an auction of company shares.

At a valuation in December for putting together a cash injection, Twitter was still worth less than half that. Investors were prepared to pay 34.50 dollars per Twitter share at the auction organised by SharesPost, the internet platform announced, according to SDA. With just under 224 million shares, this gives the company a value of 7.7 billion dollars.

The short message service, which can be used to send 140-character information to interested parties, was founded in 2006. In September last year, Twitter had around 175 million users. Twitter is popular with celebrities and politicians, but is also increasingly used by companies for advertising.

Twitter founder Biz Stone recently said that the company has no plans for an IPO. Twitter wants to remain independent and does not need any fresh capital in the next twelve months. Social network Facebook, which has long been speculated about going public, is valued at more than $50 billion. (SDA)

(Image: Keystone)

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