Another $250M on My Precious Twitter

Twitter Inc. raised about $20 million in new investments based on a valuation of the company at up to $250 million.

The TechCrunch and the Wall Street Journal's All Things Digital blogs over the weekend both cited unnamed sources saying that the San Francisco-based micro-blogging company has followed up on its previous $20 million in funding with a similar sized round that has yet to be announced.

The new valuation of the company is about half what Palo Alto social networking company Facebook Inc. reportedly offered for Twitter over the summer, although most of that was said to be in Facebook stock which today is worth nowhere near what it was thought to at that time. Facebook's valuation was pegged at about $15 billion when Microsoft Corp. (NASDAQ:MSFT) invested in it in 2007 but is now valued at less than $5 billion.