VCs Pump Money and Expectations Into Twitter

[ECTNews]

 A major round of funding from private investors for social networking site Twitter has raised the valuation of the company to more than $7 billion, according to a report in The Wall Street Journal. That's almost double from December, when it raised $200 million in a round of funding led by Kleiner Perkins Caufield & Byers which at the time put the microblogging service's value at $3.7 billion. The news comes at a time when many of Twitter's competitors and peers in and around the social networking circle are going public.