JP Morgan eyes stake in Twitter
JP MORGAN could take a ten per cent stake in Twitter in a deal that would value the microblogging site at a staggering $4.7bn.
The bank’s Digital Growth Fund is hoping to invest $450m in the site, according the Financial Times. The Twitter stake, which has not been finalised, would account for around a third of the $1.22bn raised by the fund to date. The fund is also considering investing a third of the cash in online games firm Zynga.
In its recent financing round, Twitter was valued at $3.7bn, after selling $200m worth of shares. The site has 175m registered users who send 95m “tweets” of up to 140 characters every day. Google and Facebook are both said to be in talks to buy Twitter for up to $10bn (£6.23bn).