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Twitter adds $100 million to social networking war chest

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Twitter adds $100 million to social networking war chest

Twitter has “closed a significant round of funding” with a group of top investment companies. According to Twitter CEO Evan Williams, the financial firms included T. Rowe Price, Institutional Venture Partners, Spark Capital, Benchmark Capital and Morgan Stanley.

“It was important to us that we find investment partners who share our vision for building a company of enduring value,” Williams explained in an official blog post. “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.”

Although Twitter declined to disclose precise financial details, the Wall Street Journal reported that the company had raised approximately $100 million at a valuation of $1 billion.

It should be noted that a number of additional companies have previously invested in Twitter, such as Benchmark, Union Square Ventures, Charles River Ventures and Bezos.  

The popular social networking site has experienced a surge in unique visitors since the 4 million recorded in August 2008. Indeed, according to Comscore, unique visits in August 2009 totaled almost 55 million.