A fresh valuation at an auction of Twitter shares by Sharespost places the microblogging company at $7.7bn.
Investors have agreed to pay $34.50 a share in the $1.2m auction that Sharepost said was oversubscribed. It said the auction involved 35,000 shares of Twitter’s Series B preferred stock.
The recently held auction suggests that investors value the company at more than twice the valuation it got in a December funding round.
In December last year, Twitter raised $200m in financing in a deal that valued it at $3.7bn.
Earlier rumours of the company’s low level talks with Google and Facebook shot up the micro-blogging site’s value to as high as $10bn.
On 28 February, a new JPMorgan Chase & Co technology fund was reported to be in talks to buy a stake in microblogging site Twitter.
Twitter was created in 2006, but it introduced advertising into its service only last year.
