After receiving a new round of funding from Digital Sky Technologies ^[1], an international venture firm, micro-blogging website, Twitter ^[2], is now valued at $8.4 billion.

A source familiar with the deal told the Wall Street Journal ^[3] that Twitter, which has 200 million registered users, raised $800 million in its latest investment round. Half of the financing will be used to buy out existing shareholders, while the other half will go to the company directly.

The recent investments show that Twitter is seeking new ways to generate large revenues like other social media powerhouses. The website recently launched a new online advertising method ^[4] to rank sponsored tweets at the top of a user’s feed, ensuring advertisers that their tweets will be seen.

Twitter announced last December that after a round of financing, it was valued at $3.7 billion.

Read more at the Wall Street Journal ^[3].