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Thursday, September 24, 2009

T. Rowe Feeds Twitter

Reported by Daniel Tovrov

T. Rowe Price is about to contribute part of a $100 million investment in the latest internet craze. The Wall Street Journal's Michael Corkery and Jessica Vascellaro report that the mutual fund giant's cash is going to online messaging service Twitter. The internet sensation, often in the news due to its popularity among politicians, celebrities, and professional athletes, has 25 million users and was most recently valued at $255 million.

This marks Twitter's third and largest round of funding, and other investors include private-equity firms Insight Venture Partners, Spark Capital, and Institutional Venture Partners.

A T. Rowe Price spokesperson was not immediately available to comment on where exactly the money will be invested from. 

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