When Twitter announced its latest round of funding on Friday, it oddly left out one investor: Morgan Stanley.
The investment bank put less than $10 million into the financing round that reportedly valued the company at $1 billion, according to The Wall Street Journal. (Twitter later added the investment bank’s name to the roster of investors in its blog post).
Guess this means Morgan Stanley didn’t put too much stock in the “Teens don’t tweet” report its research department released earlier this summer.
As Twitter pulls together larger fundraising rounds, it’s attracting more established names like Morgan Stanley and T. Rowe Price, known for managing retirement funds. That’s also cutting out earlier backers like New York-based Union Square Ventures and Charles River Ventures, who either can’t stomach a round of up to $100 million or balked at Twitter’s eye-popping, 10-figure valuation level.
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