Twitter Inc. was valued at about $9bn after early employees sold $80m in shares to a fund managed by BlackRock, three people with knowledge of the matter said.
Bloomberg reports that the sales were overseen by Twitter Chief Operating Officer Ali Rowghani, said one of the people yesterday, who asked not to be identified because the transactions were private.
Twitter is helping early shareholders realize part of the value of their holdings while letting select investors obtain equity in the fast-growing Internet company before it holds an initial public offering. The deal with BlackRock, the largest money manager, marks an increase in the blog-site’s value since 2011, when an investment led by DST Global valued Twitter at $8bn, people with knowledge of the plan said then.
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Twitter Is Said to Be Worth $9 Billion as BlackRock Buys Shares
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