The world’s largest asset management company BlackRock has taken USD 80 million stake in social networking website Twitter Inc, according to sources.
Twitter, a six-year old micro blogging website is not set to raise new capital due to part of the deal which pegs the company at more than USD 9 billion. BlackRock is said to buy shares straight from early Twitter employees.
Twitter’s change in valuation suggest a certain increase from what it was in 2011 when a similar deal with Price Alwaleed bin Talal of Saudi Arabia that valuated the company at USD 8.4 billion.
Many Twitter employees will be able to sell their shares off as part of the deal.
First Published: Monday, January 28, 2013, 09:02