Twitter is looking to raise investment of more than $100 million after valuing the company at $3 billion.
TechRadar reports that Russian technology investment firm, DST global is seeking to lead the funding round for the platform.
Twitter currently has over 175 million users and last year introduced a limited ad revenue model catering to around 40 advertisers.
Twitter founder Evan Williams said that the company has purposely kept its revenue model small to test and gain feedback from advertisers and users.
The company currently sells promoted tweets in Twitter search results, which appear in the promoted trends section.
Last year Twitter raised $100 million from investors like Insight Venture Capital, Spark Capital and mutual fund behemoth T Rowe Price, who then valued the company at $1 billion.
Williams also indicated that his company is in talks with Facebook for finding new ways for the two companies to work together. He also mentioned the company has managed to ink deals with Google, Microsoft and Yahoo.