WSJ: J.P. Morgan fund in talks to take Twitter stake

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A fund run by J.P. Morgan Chase & Co. is in talks with Twitter Inc. to take a minority stake in the rapidly growing microblogging company, people familiar with the matter said.

The investment, which is expected to value Twitter at more than $4 billion, will be made from the bank’s new $1.2 billion digital growth fund, these people said. Exact terms of the potential deal couldn’t be learned.

Discussions between J.P. Morgan and Twitter are continuing, and there is no guarantee a deal will be struck, the people added.

J.P. Morgan also has purchased a significant amount of Twitter’s shares on exchanges for private-company stock, separate from its talks for a direct stake in the company, said a person familiar with the matter.

A Twitter spokesman said the company doesn’t comment on interest by other companies. A J.P. Morgan spokesman declined to comment.

J.P. Morgan said in a regulatory filing last week that it had raised $1.2 billion for the new fund, much more than the initial target of between $500 million and $750 million reported by The Wall Street Journal. Continue reading this story from The Wall Street Journal here.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.