Microblogging site Twitter, contrary to recent assertions, will not put ads on its site this year but it is close to getting a $100 million round of financing.
Oh, and the company apparently now carries a $1 billion valuation. Yep, $1 billion. That’s quite the jump up from the recent $250 million estimate.
Twitter co-founder Biz Stone said this week at a company conference in Los Angeles that any advertising strategy “is going to be awhile ... We’re not thinking about that just yet,” according to Reuters.
Meanwhile, the $1 billion valuation comes as quite a shock, especially since Twitter has yet to prove to investors how it’s going to make money. Stone has been talking about using premium features for commercial accounts as a way to do that. Both TechCrunch and the Wall Street Journal, though, have confirmed with inside sources that the $1 billion valuation is for real.
