The blogosphere is inundated with the rumours that the microblogging phenomenon Twitter is in the process of raising another $50 million worth of funding which could value the site at a whopping $1 billion.
Prominent technology blog Tech Crunch is reporting that the microblogging site is working on to raise capital funding, with the US-based venture capital company Insight Venture Partners believed to be the principal investor.
The blog quoted that the site has already raised $55 million to date, including a funding spell of an over $35 million earlier this year, which made the company valued at $250 million.
With rumours of another funding round of $50 million doing rounds, it seems that the valuation of Twitter could be quadrupled in the span of over four months or so.
The news of Twitter’s fund raising emerges shortly after the website announced some changes in its terms and conditions, which in turn offers the site scope to display targeted adverts on users’ pages.
The move could be seen as Twitter’s endeavours to notch up a lucrative revenue model, as this widely-popular microblogging website is yet to capitalise on its massive user base and start making money from it.