Twitter is now valued at $8 billion

In its latest round of funding, Twitter's CEO Dick Costolo said that the microblogging site is valued at $8 billion. Costolo made this announcement at the Web 2.0 event in San Francisco. He added that the valuation comes from the company recently raising $800 million in a two stage funding round and that Twitter is not looking at an IPO in the short-term. Costolo said, "I want the company to go public when the company is ready and prepared to be a public company, and not at the whim of some window." Click here for full story