Report: Twitter raises $100 million in funding

Twitter, one of the world's best known social networking sites, has announced on its website that it has received some new funding. Some reports peg this recent round of funding to be close to $100 million.

Evan Williams, a co-founder of the site. made the announcement on a blog post, saying that Twitter had negotiated funding from a total of five different investment companies. Some reports had suggested that the social networking site were able to get $100 million in extra funding but this figure has not been confirmed. This amount of funding would give Twitter a value of $1 billion. Twitter now has 45 million members across the world and had been able to get some funding earlier this year when they were able to accumulate $35 million. Industry experts still point out that the site does not have a way to make revenue but Twitter has recently adjusted the terms on its site to allow advertising. On the Twitter blog a statement from Evan Williams said: "It was important to us that we find investment partners who share our vision for building a company of enduring value. Twitter's journey has just begun and we are committed to building the best product, technology, and company possible. I'm proud of the team we've built so far and I'm confident in the future we'll build together" The blog began by thanking its new investors. Among them are Morgan Stanley, Spark Capital and T. Rowe Price.