BlackRock seeks $80M Twitter stake, at $9B valuation--reports
Global investment manager offers to buy stock from early Twitter employees in a deal with a valuation that's a jump of more than 10 percent from the social network's most recent fund-raising in 2011.
A fund overseen by global investment manager BlackRock has offered to buy $80 million in stock from early Twitter employees, according to reports, in a deal that values Twitter at more than $9 billion.
The valuation figure is a jump of more than 10 percent from the social network's most recent fund-raising, in 2011, the Financial Times said in its report (subscription required), which cites unnamed sources. The offer highlights Twitter's growth as talk resurfaces about a possible IPO.
Earlier today, New York analyst firm Greencrest Capital predicted a 2014 IPO for Twitter and valued the company at between $10.5 billion and $11 billion "by late 2013 or early 2014."
The Wall Street Journal cited its own sources in reporting that BlackRock is offering to buy shares at $17 apiece. Twitter is brokering the deal but will make no money itself from it, according to reports.
If the Twitter-BlackRock deal is fully realized, BlackRock would own a little less than 1 percent of the social network.