Twitter has confirmed its latest round of funding, led by Russian tech giant Digital Sky Technologies, in a new blog post.
The confirmation comes after weeks of speculation regarding the funding, which is reportedly being used to pay out investors and employees who hold stock.
“We’ve come very far in a short time. Now we have an opportunity to expand Twitter’s reach with a significant round of funding led by the venture firm DST Global, with the participation of several of our existing investors.”
“We will use these resources to aggressively innovate, hire more great people and invest in international expansion.”
Reports have indicated the funding round is worth $US400 million, providing the company with a valuation of $US8 billion.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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