1. Business

    Twitter Seeks $7B Valuation

    File photo dated 19/08/09 of the Twitter icon displayed on a laptop. Hundreds of people have now posted messages on Twitter allegedly naming the footballer who is the subject of a gagging order.  Issue date: Sunday May 22, 2011. The married star, who is referred to as CTB in court documents, is said to have had a"sexual relationship" with Big Brother's Imogen Thomas.
He obtained an order preventing The Sun newspaper from revealing his name last month and has now launched proceedings against Twitter and "persons unknown."

    Martin Keene, PA / AP Photo

    Don’t expect the Twitter IPO anytime soon: The company is seeking a new round of private investing, which could bring in hundreds of millions of dollars and value it as high as $7 billion. That means the company could have nearly doubled its value in the months since it raised $200 million for a $3.7 billion valuation. Still, the company doesn’t bring in much revenue and is seeking to develop its ad system before it looks to an IPO. The plans include a way of integrating sponsored tweets into users’ accounts and an entirely new ad offering, whose details are under wraps.

    Read it at The Wall Street Journal