With 250 million tweets a day, Twitter worth around $8 billion: CEO, Dick Costolo

With around 250 million tweets a day, online social networking and microblogging site Twitter is worth around $8 billion, according to its CEO, Dick Costolo.

Speaking yesterday at the Web 2.0 Summit in San Francisco, California, Twitter CEO Dick Costolo said that the company is now worth $8 billion.

With an $8 billion valuation, Twitter is not looking at an initial public offering; it is already well funded, having raised $800 million three months back through a fresh round of financing led by Digital Sky Technologies, the Russian internet-investment group, Morgan Stanley, T Rowe Price, the US-based mutual fund manager, Insight Venture Partners, Institutional Venture Partners, Spark Capital and Benchmark Capital.

This low-key five year- old San Francisco-based start-up company has grown from 400,000 tweets in 2007 to 100 million tweets at the beginning of the year and nearly 250 million tweets last month.

It took three years and two months for Twitter to reach its first billion tweets.

Twitter now has 100 million active global users, and 50 million of them log in every day, according to tech product review site CNET.