Twitter has closed a $200 million round of funding that will value the company at $3.7 billion, Kara Swisher reports.Kleiner Perkins is the lead investor, as has been previously reported. Ex-DoubleClick CEO David Rosenblatt will be joining Twitter’s board, along with Flipboard CEO Mike McCue, says Swisher.
Twitter is currently in a transitional phase, trying to build its business. It recently made Dick Costolo CEO, and sources around and in the company say there’s some tension between people focused on product and people focused on business.
With McCue and Rosenblatt, Twitter has a strong group of executives to help grow the business.
Kleiner is the only new investor in Twitter for the round. Previous investors in Twitter include Benchmark Capital, Union Square Ventures, Spark Capital and other angels and investors.
Twitter has a blog post up about the funding.
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