Twitter is reportedly close to raising $100 million in funding at a valuation approaching $1 billion.
According to the Wall Street Journal Twitter may get the new funding from as many as seven investors. Tech Crunch reported that Twitter was going to be valued at $1 billion.
While you can argue over whether Twitter is worth $1 billion one alleged investor caught my eye: T. Rowe Price.
This mutual fund firm, which I know well, isn't exactly a run-and-gun investment house. These folks play long term and tout planning for the long run.
Simply put, when T. Rowe Price plunks down a big chunk of change on Twitter of all things I take note. The mutual fund giant's involvement prompts a few thoughts:
Either Twitter is really a long-term play; T. Rowe Price just wants to be among the first in line for an IPO allocation for its funds; Or T. Rowe Price is simply out of its mind.
We'll find out whether the grand Twitter bet pays, but there's an interesting compare and contrast with a company that has no meaningful revenue and the T. Rowe Price mission.