Twitter is on track to raise $100 Million dollars in financing, which would make the micro-blogging site, which currently doesn't have much of a revenue stream, valued at $1 Billion.
The company is set to complete a round of financing from some of its current investors including Spark Capital and Institutional Venture Partners, as well as new investors T. Rowe Price (an unusual investment from the mutual fund company) and Insight Venture Partners.
The company has become a source for celebrity gossip with a direct line to stars themselves, the next generation broadcaster, with millions of users signing up for instant headlines from the likes of CNN and CNBC, and a next-generation communication tool. Everyone from Google to Microsoft to Facebook has acknowledged the site's value and pursued investment in the site. For now, Twitter is going alone and certainly won't have a hard time building a war chest to do so.