JPMorgan Fund Plans to Invest in 10 Percent Twitter Stake

By

Is Twitter a good investment? According to a Reuters report, JPMorgan Chase & Co may think so. The company has developed a new technology fund that is currently in talks to buy a substantial stake in Internet messaging. As a result, it has its sights set on Twitter.

A report in the Financial Times, which cited people familiar with the plans, JPMorgan’s Digital Growth fund is hoping to acquire as much as 10 percent of Twitter for $450 million. The company is valued at $4.5 billion.

In a regulatory filing on Friday, JPMorgan said that it had raised $1.22 billion for the Digital Growth fund. Reportedly, the fund eventually plans to raise a total of $1.3 billion from a maximum of 480 investors.

A third of the fund is likely to be invested in another private Internet company such as online gaming company Zynga or telephony company Skype. The final third is expected to be invested in six other companies, which could include coupon site LivingSocial or online retailer Gilt.

According to the Financial Times, JPMorgan anticipates more than $13 million in commissions from the fund.

This latest fund by JPMorgan comes on the heels of the $1.5 billion fund-raising round by Facebook, mainly from Goldman Sachs and its clients.

In other Twitter news, the NFL has been using the micro-blogging site to ruffle some feathers. Players have been offering up real-time comments on the negotiations via social media sites like Twitter.

TechZone360’s Beecher Tuttle writes, “As the first major sports organization to take part in a labor dispute during the social media era, the NFL has found itself on the wrong end of thousands of angry tweets from current players, who have bashed the league owners for their perceived greed.”

Research in Motion – the company behind the BlackBerry – has enjoyed some success on Twitter. The company reported that Twitter for BlackBerry smartphones has been downloaded more than 10 million times.

With so many users downloading the app for their Blackberrys, these individuals have been very vocal about what additional features they would like to see, such as geotagging, which allows users to identify their location with their tweets; new language support; cleaner interfaces; new notifications and more.


Susan J. Campbell is a contributing editor for TechZone360 and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.

Edited by Tammy Wolf
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

TechZone360 Contributing Editor

SHARE THIS ARTICLE
Related Articles

Shabodi Accelerates Adoption of Network-Aware Applications with CAMARA API Enterprise Reference Implementation

By: Special Guest    2/16/2024

Shabodi, an Application Enablement Platform (AEP) provider unleashing advanced network capabilities in LTE, 5G, 6G, and Wi-Fi 6, announced they have l…

Read More

How Much Does Endpoint Protection Cost? Comparing 3 Popular Solutions

By: Contributing Writer    2/2/2024

Endpoint protection, also known as endpoint security, is a cybersecurity approach focused on defending computers, mobile devices, servers, and other e…

Read More

What Is Databricks? Simplifying Your Data Transformation

By: Contributing Writer    2/2/2024

Databricks is an innovative data analytics platform designed to simplify the process of building big data and artificial intelligence (AI) solutions. …

Read More

What Is Blue/Green deployment?

By: Contributing Writer    1/17/2024

Blue/green deployment is a software release management strategy that aims to reduce downtime and risk by running two identical production environments…

Read More

The Threat of Lateral Movement and 5 Ways to Prevent It

By: Contributing Writer    1/17/2024

Lateral movement is a term used in cybersecurity to describe the techniques that cyber attackers use to progressively move through a network in search…

Read More