The Twitter fund-raising led by John Doerr of Kleiner Perkins Caufield & Byers which values Twitter at $3.7bn is interesting in several ways. One of them is what it says about the emerging rivalry between venture capitalists in Silicon Valley and those in New York.
Mr Doerr was known for Kleiner Perkins’ green energy investments, but the venerable venture capital outfit has recently been eager to get into the social media boom. It even conceded a valuation of Twitter high enough to beat out Yuri Milner of Digital Sky Technologies. Read more