Social Media Stocks in Focus as Twitter Valuation Rises (BLK) (FB) (ZNGA)
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Facebook (Nasdaq: FB), Zynga (Nasdaq: ZNGA), and Groupon (Nasdaq: GRPN), among others, are getting a little positive attention today following a new investment by private equity firm BlackRock (NYSE: BLK).
Looking to ride the wave of successful social media outlets, BlackRock is said to have invested $80 million in micro-blogging site Twitter. The purchase values Twitter at about $9 billion, which would be an increase from prior valuation of $8 billion hit in 2011 following an investment by DST Global.
There's no timing on an IPO for Twitter and financial performance metrics have been scarce at best. However, the move by BlackRock might signal more confidence in social media, which will only grow as companies are able to draw in stronger revs from ad sales and the like, something Facebook has been laser-focused on doing.
Most recent numbers have active Twitter users moving above the 200 million mark, a far cry from Facebook's 1 billion-plus count, but progress nonetheless.
Looking to ride the wave of successful social media outlets, BlackRock is said to have invested $80 million in micro-blogging site Twitter. The purchase values Twitter at about $9 billion, which would be an increase from prior valuation of $8 billion hit in 2011 following an investment by DST Global.
There's no timing on an IPO for Twitter and financial performance metrics have been scarce at best. However, the move by BlackRock might signal more confidence in social media, which will only grow as companies are able to draw in stronger revs from ad sales and the like, something Facebook has been laser-focused on doing.
Most recent numbers have active Twitter users moving above the 200 million mark, a far cry from Facebook's 1 billion-plus count, but progress nonetheless.
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