Twitter receives 24m in additional VC funding

Micro blogging site Twitter received £24.5m in VC funding this weekend, bringing its total funding figure to over £35m.

The funding, which is the third round of investment in the site, came from venture capital firms Benchmark and Institutional Venture Partners.

Twitter co-founder Biz Stone said in a blog post the site’s strong growth – it has seen active user numbers jump 900% in a year – attracted the money.

It will be invested in growing the site further and developing revenue building products, he said.

Last week Twitter became the UK’s 91st most visited site, according to Hitwise. The UK growth is being credited to high profile celebrity users such as Stephen Fry and Jonathan Ross.

Twitter claims to have over 55m users a day.

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