The concept of Twitter is so simple – a free site to express your thoughts at their most condensed. Twitter is concise, Twitter helps people communicate, and best of all, even though advertising on Twitter is minimal and unobtrusive compared to many other sites, using Twitter doesn’t cost a dime. (No matter who you are, saving a little money never hurts.)
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The simplest good ideas are often the most valuable, and Twitter is no exception. Twitter ad revenue from promoted Tweets and corporation-sponsored accounts is expected to reach $150 million this year, and possibly double that in 2012. Twitter is a hot commodity, and even though it hasn’t gone public, private investors are still taking notice.
This week Reuters reported that private investing stock market SharesPost conducted a hotly followed auction involving 35,000 shares of Twitter stock. At the auction, investors agreed to a $34.50 share price for the Twitter stock in question.
SharesPost also listed 223.7 million estimated “fully diluted shares” of Twitter on its website. Assuming that math is correct, it puts Twitter at an estimated value of roughly $7.7 billion USD.
For Twitter this is a major leap. In December, when venture capital firm Kleiner Perkins Caufield & Byers spearheaded $200 million investment strategy, Twitter was valued at $3.7 billion USD. This latest information essentially doubles the value of Twitter in only three short months. While Twitter executives say that going public on the stock market is still a far-off goal, it seems likely that – as long as Twitter continues in its success– they’ll have one hungry market on their hands when the time comes.