It’s John Doerr’s Twitter Party and He’ll Drive Up the Price If He Wants To

Drive up the price if he wants to! Drive up the price if he wants to! Photo: Noah Berger/Bloomberg via Getty Images

Venture capitalist John Doerr has been on a tear recently to reassert his dominance in the tech industry — perhaps in part to make up for passing on Twitter, which he recently admitted to regretting. Doerr, whose firm, Kleiner Perkins Cauflied & Byers, was synonymous with the nineties dot-com boom, recently poached Morgan Stanley's "Queen of the Net," Mary Meeker. And in the bubble versus boom debate, he's been near-euphoric about the potential he sees in the current wave of entrepreneurs. At the Web 2.0 conference, when Union Square Ventures's Fred Wilson, who saw this whole social-smartphone intersection coming, said KPCB wasn't "late to the market ... they just decided to double down in a very big way." Nowhere is that more in evidence than in the recent bidding war over Twitter. After a Russian firm, DST, which also owns 10 percent of Facebook, made an offer that valued the company at more than $3 billion, "alpha investor" Doerr has led the charge, driving up the price to $4 billion. An inside source on the negotiations told TechCrunch, "Doerr wants to own part of Twitter, and Doerr generally gets what he wants” Hey, what's a little a ton of extra cash to get people to stop calling you the Guy Who Said No to Twitter?

Bidding War For Twitter Raises Valuation To Nearly $4 Billion. Kleiner Perkins Currently In Pole Position [TechCrunch via VentureBeat]