Ziff Davis Enterprise Owner to Inject $50 Million Into Twitter
Insight Venture Capital said to be primary investor in new round of financing.
Insight Venture Partners, the New York-based private equity firm that acquired Ziff Davis Enterprise in 2007, is said to be investing $50 million in Twitter.
Twitter is closing a round of financing that pegs the site’s value at $1 billion, according to tech blog site TechCrunch. Citing an unnamed source, TechCrunch founder Michael Arrington indicated that Insight is the primary investor in the deal.
To date, Twitter has raised $55 million, including $35 million earlier this year from Benchmark Capital. That round of financing, according to Arrington, valued Twitter at $250 million.
Insight managing director Jeff Horing did not immediately return a FOLIO: e-mail seeking comment.
Insight Venture Partners acquired Ziff Davis Enterprise from Ziff Davis Media in 2007 for $150 million. This spring, ZDE said it agreed with its lenders on a plan that restructured the b-to-b tech publisher’s debt and increase its access to capital.