Twitter set to raise $100 million, valuing it at $1 billion, despite no revenue

Twitter, the wildly popular social messaging phenomenon, is poised to seal a $100 million venture capital round from as many as seven investors. That would value the company at a cool $1 billion, a number first floated last week. Not bad for an outfit that has yet to earn a cent and or even announce how it plans to make money.

This latest round includes new Twitter investors T. Rowe Price, the mutual fund giant, and private-equity firm Insight Venture Partners, according to The Wall Street Journal. Other investors include Spark Capital and Institutional Venture Partners, which are both previous Twitter backers, according to the paper.