JPMorgan Eyeing Twitter Stake

New $1.2B fund targeting social media
By Rob Quinn,  Newser Staff
Posted Feb 28, 2011 2:32 AM CST
Updated Feb 28, 2011 5:49 AM CST
JPMorgan Eyeing Twitter Stake
The chief executive officer of Twitter, Dick Costolo, arrives to speak at the opening of the 3GSM World Congress in Barcelona.    (Getty Images)

Investment giant JP Morgan is seeking to snap up a slice of Twitter, insiders tell the Wall Street Journal. The firm's new $1.2 billion Digital Growth Fund is in talks to acquire a minority stake in the microblogging site in a deal that would value Twitter at around $4.5 billion, say the sources, who stress that talks are ongoing and no deal has been struck yet. The fund—which is targeting private Internet and digital-media companies—is also looking for a stake in online gaming heavyweight Zynga and coupon provider LivingSocial, the sources say. (More JPMorgan Chase stories.)

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