Twitter received a "significant amount of funding"today from current investors and a new investor Russian-owned, Digital Sky Technologies, which also holds significant stakes in Facebook, Groupon, and Zynga, the company that created Farmville and Mafia Wars.

Although no definitive specifics have been released, the LA Times reported "People familiar with the funding peg it at $800 million, making Twitter worth $8 billion."

In December, Twitter raised $200 million from Kleiner Perkins Caufield & Byers and other firms in a deal that valued the company at $3.7 billion.

The investment shows the demand for a stake in top social networking companies and has even led some to more talk about another dot-com bubble will be coming, something people have been saying since FourSquare launched in '09.

But, if Twitter is planning an IPO, the company is certainly on track to generate $150 million in advertising revenue this year, according to eMarketer. And, they've just opened a New York office, further positioning them for even more growth in the coming months.

In response to the investment, Twitter told the LA Times: "We will use these resources to aggressively innovate, hire more great people and invest in international expansion."

For more visit: www.speakmediablog.com