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Twitter scores $200 million in funding; adds two board members

Twitter has scored a pretty significant holiday stocking stuffer, as CEO Dick Costolo announced in a blog post today that the company has received $200 million in funding at a $3.7 billion valuation, led by Kleiner Perkins Caufield Byers.

Twitter has scored a pretty significant holiday stocking stuffer, as CEO Dick Costolo announced in a blog post today that the company has received $200 million in funding at a $3.7 billion valuation, led by Kleiner Perkins Caufield Byers.

Costolo, in his post, didn't give up the financial details but Kara Swisher cited her own sources in a post on her Boomtown blog. Costolo did, however, note that the funding was from Kleiner Perkins and existing investors. Swisher's sources say that Kleiner Perkins gave up $150 million of it.

In addition to the funding, Costolo said that the company has added Flipboard's Mike McCue and former DoubleClick head David Rosenblatt to its board of directors. In his post, Costolo wrote:

The experience these new directors bring to Twitter, along with this renewed investment, will help us continue to grow as a company and business. 2010 was one of the most meaningful years since Twitter, Inc. was founded in 2007. We operate on a principle that people are basically good—when you give them a simple way to express this trait, they prove it to you every day. We're proud of what Twitter users have accomplished, we're proud of our work, and we're very proud of our team.

Costolo also noted that, in the past year, more than 25 billion tweets have been sent and more than 100 million new users have joined the service. The company has also grown from 130 employees to more than 350.

Costolo didn't talk specifically about what the company would do with the additional funding but certainly it will come in handy as the microblogging site continues its expansion.