When Prince Alwaleed bin Talal of Saudi Arabia bought a piece of Twitter in 2011, he did so at a $8.4 billion valuation.Last week, BlackRock bought an $80 million stake at a $9 billion valuation.
That’s not a whole lot of growth for a company like Twitter.
Twitter probably blames Facebook, which IPO’d at a market cap close to $100 billion in the middle of last year, and hasn’t returned to that valuation yet.
Late stage investors are more sceptical now about social media platforms with big audiences and minimal revenues.
Business Insider Emails & Alerts
Site highlights each day to your inbox.