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Twitter gets new round of funding, new backers

Twitter received $100 million in funding on Friday, valuing the company at $1 billion, according to a person familiar with the matter, as investors bet that the Web company’s explosive growth will yield actual revenue or a lucrative deal.

But the three-year-old Internet microblogging company has yet to figure out how to make money from the free service.

Executives have cited premium features and advertising as key initiatives to make money, though co-founder Biz Stone told Reuters this week that Twitter would not take advertising this year, despite widespread speculation that it would.

Twitter gets new round of funding, new backers | Technology | Reuters

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