JPMorgan Fund Seeks Minority Stake in Twitter |
| New York Times - Feb 28, 2011 |
JPMorgan Chase’s new fund aimed at investing in social media companies is seeking to buy a minority stake in Twitter that could value the service at close to $4.5 billion, people briefed on the matter said Sunday.
For the $1.22 billion JPMorgan fund, Twitter appears to be its beachhead in the highly popular social media sector, much as Goldman Sachs established its presence in the category by raising $1.5 billion to invest in Facebook, an amount that included $1 billion collected from wealthy private individuals outside the United States.
It is not clear whether the fund, known as the J.P. Morgan Digital Growth Fund, will invest directly in Twitter, or buy current investors’ stakes with the company’s consent, these people said. They cautioned that talks were continuing and might not lead to a deal. These people spoke on the condition of anonymity because the talks were intended to be private.
Read Full Article from New York Times
- Posted: 2011-02-28 09:57:12
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