Twitter has raised $200 million of financing in a deal that values the microblogging company at $3.7 billion, less than a year after it began its first serious efforts to make money. The funding, from Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers and existing Twitter investors, underscores the high hopes that investors have for Internet social networking companies.
"It's a huge multiple. But the idea is that (Twitter's) scale can be monetized," said BGC Partners analyst Colin Gillis, who estimated that Twitter's annual revenue was currently under $100 million.