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Twitter raises $200 million, adds 2 board members

- Associated Press - Wednesday, December 15, 2010

SAN FRANCISCO (AP) - Twitter has raised another $200 million to help its popular online communications service keep on growing.

Kleiner Perkins Caufield & Byers, one of Silicon Valley's best-known venture capital firms, is leading the investment announced Wednesday. The funding values privately held Twitter at $3.7 billion, up from $1 billion when the 3-year-old company raised its last round of financing 15 months ago.

The funding was first reported by the technology blog, All Things Digital.

Besides bringing in more money, Twitter also added two members to its board, veteran Internet entrepreneurs Mike McCue and David Rosenblatt.

McCue sold a voice recognition company to Microsoft Corp. for $800 million in 2007, and Rosenblatt was CEO of online ad service DoubleClick when Google Inc. bought it for $3.2 billion in 2008.

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