Twitter set to raise $100 million in new funding

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San Francisco—Microblogging company Twitter appears set to gain $100 million in new funding from an investment consortium that includes mutual fund company T. Rowe Price Group, equity company Venture Partners and existing backers Spark Capital and Institutional Venture Partners.

Twitter is now valued by investors at about $1 billion, four times the company’s January valuation. According to comScore, Twitter’s Web site attracts 54 million visitors a month, a tenfold increase this year alone.

While the company has yet to monetize its site in any appreciable sense, a study released this month by Pennsylvania State University reported that 20% of all tweets specifically mention company and product names, as users request product information or respond to such requests. Penn State researchers said Twitter could ultimately be on par with e-mail “in terms of its communication impact” for advertisers.

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