TechCrunch reports that Twitter CEO Ev Williams spilled the beans about the funding during an all-hands meeting at the San Francisco HQ of Twitter.
What surprises me most, apart from the large valuation, is that I thought the company already had raised plenty of cash and had gobs more stashed away in its nest.
If you’ll recall, in February, Twitter raised $35 million in a Series D funding round from Benchmark Capital (which provided $21 million) and Institutional Venture Partners ($14 million). In addition, Twitter raised a still undisclosed amount of capital from previous investors Spark Capital and Union Square Ventures, at a valuation of about $230 million. At the time, colleague Dan Primack reported that Twitter was expected to have more than $50 million in cash on hand, which included some old VC money that has not yet been spent.
Stay tuned. I’m certain peHUB will have more on this later.