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Finances of Twitter


Twitter raised over US$57 million from venture capitalist growth funding, although exact figures are not publicly disclosed. Twitter's first A round of funding was for an undisclosed amount that is rumored to have been between US$1 million and US$5 million. Its second B round of funding in 2008 was for US$22 million and its third C round of funding in 2009 was for US$35 million from Institutional Venture Partners and Benchmark Capital along with an undisclosed amount from other investors including Union Square Ventures, Spark Capital, and Insight Venture Partners. Twitter is backed by Union Square Ventures, Digital Garage, Spark Capital, and Bezos Expeditions.

By March 2009 communications consultant Bill Douglass predicted in an interview that Twitter would be worth $1 billion within six months, which came to pass when the company closed a financing round valuing it at $1 billion in September of that year.

The company raised US$200 million in new venture capital in December 2010, at a valuation of approximately US$3.7 billion. In March 2011, 35,000 Twitter shares sold for US$34.50 each on Sharespost, an implied valuation of US$7.8 billion. In August 2010 Twitter announced a "significant" investment led by Digital Sky Technologies that, at US$800 million, was reported to be the largest venture round in history.

In July 2009, some of Twitter's revenue and user growth documents were published on TechCrunch after being illegally obtained by Hacker Croll. The documents projected 2009 revenues of US$400,000 in the third quarter and US$4 million in the fourth quarter along with 25 million users by the end of the year. The projections for the end of 2013 were US$1.54 billion in revenue, US$111 million in net earnings, and one billion users. No information about how Twitter planned to achieve those numbers was published. In response, Twitter co-founder Biz Stone published a blog post suggesting the possibility of legal action against the hacker.

On April 13, 2010, Twitter announced plans to offer paid advertising for companies that would be able to purchase "promoted tweets" to appear in selective search results on the Twitter website, similar to Google Adwords' advertising model. As of April 13, Twitter announced it had already signed up a number of companies wishing to advertise, including Sony Pictures, Red Bull, Best Buy, and Starbucks.

Users' photos can generate royalty-free revenue for Twitter, and an agreement with World Entertainment News Network (WENN) was announced in May 2011. In June 2011, Twitter announced that it would offer small businesses a self-service advertising system. Twitter generated US$139.5 million in advertising sales during 2011.

The self-service advertising platform was launched in March 2012 to American Express card members and merchants in the U.S. on an invite-only basis. Twitter later reported that numerous small businesses and people who used the self-service tool provided feedback that indicated they were impressed by the feature. To continue their advertising campaign, Twitter announced on March 20, 2012, that promoted tweets would be introduced to mobile devices. In April 2013, Twitter announced that its Twitter Ads self-service platform, consisting of promoted tweets and promoted accounts, was available to all U.S. users without an invite.

On August 3, 2016, Twitter launched Instant Unlock Card, a new feature that encourages people to tweet about a brand in order to earn rewards and utilize the social media network's conversational ads. The format itself consists of images or videos with call-to-action buttons and a customizable hashtag.