Over the weekend, the interwebs were a-twitter about JPMorgan Chase dumping a load o' cash into Twitter – $450m for a 10 per cent stake, said the Financial Times, which as you math whizes out there have surmised, would value the micro-messaging service at $4.5bn.
There's one wrinkle to this rumor, however. As pointed out by TechCrunch, JP Morgan Chase already owns a hefty chunk of Twitter.
Not directly, according to TechCrunch's sources, but by investing heavily in a billion dollar–plus fund managed by angel investor Chris Sacca, which in turn has invested heavily in Twitter.
The Sacca fund's purchases of Twitter stock – well, at the top end of its share prices – also indicate Twitter's to be value at around $4.5bn, if TechCrunch's sources are correct.
If so, at least the FT got that right – although, as far as we can tell in the secretive world of high finance, another JPMorgan Chase investment might be in the offing.
That is, if Twitter needed the cash for developmental purposes, and there's no reason to believe, after a spate of recent investments, that they do. ®