Twitter valuation 100 times expected revenues

America's top social media analyst said Twitter's $8bn-$10bn valuation is more than justified despite others baulking at a valuation 100 times the company's expected revenues this year.

Lou Kerner at Wedbush said: "Twitter is positioned to be one of the global communications platforms given its potential growth with advertisers and estimated revenues." Twitter's Dick Costolo said: "My sincere hope is for Twitter to be a successful independent company."