Bidding War For Twitter Raises Valuation To Nearly $4 Billion. Kleiner Perkins Currently In Pole Position

Two weeks ago we reported that Twitter was mulling over raising a big new round of financing and the expected valuation was in the $3 billion range. Things have developed since then, it seems.

The bidding has gotten more intense from what we're hearing. Russian firm DST, among others, submitted offers to invest valuing the company above $3 billion, say multiple sources. But the current leader, and likely winner, is Kleiner Perkins, say multiple sources. And the likely valuation when the smoke clears will be close to $4 billion.

Alpha investor and Kleiner investor John Doerr is personally leading the charge, we've heard, and is acting something like a dog with a bone that won't let go. "Doerr wants to own part of Twitter, And Doerr generally gets what he wants" says one person with knowledge of the negotiations.

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