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BlackRock to buy $80 million Twitter stake

  • BlackRock, world's largest asset management company, has taken an $80 million stake in Twitter Inc, as per sources. The social media company will not raise any new capital as part of the private deal that values the firm at more than $9 billion. BlackRock will buy shares directly from early Twitter employees who are seeking to liquidate their stock holdings and options. Twitter's new valuation represents a small rise from late 2011, when the company facilitated a similar tender offer with Prince Alwaleed bin Talal of Saudi Arabia that valued the company at $8.4 billion. Twitter sought investors for another tender offer last summer but did not complete the deal until recently, as per sources. Several hundred Twitter employees, including many who joined the company before 2009, will be eligible to sell their shares as part of the transaction.