Twitter nears deal to raise USD 100 mn: report

Micro-blogging site Twitter is close to securing USD 100 million funding from about seven investors, a move which will make it a billion-dollar entity, says a media report.

Attributing to people familiar with the situation, The Wall Street Journal said, Twitter Inc is nearing a deal to garner as much as USD 100 million that would buy the fast- growing Internet-messaging company more time to chalk out its business model.

The investor group, expected to pump in funds into Twitter, are likely to include mutual-fund giant T Rowe Price Group Inc and private-equity firm Insight Venture Partners, the report said.

The group of investors may also include firms that have previously made investments in the company, including Spark Capital and Institutional Venture Partners, it added.