Twitter's Valuation May Soar To $7 Billion: Report

A little bird is chirping dollar signs: Social messaging service Twitter could be valued at as high as $7 billion, according to the Wall Street Journal.

Back in December, Twitter was valued at close to$3.7 billion, after a $200 million financing round led by venture firm Kleiner Perkins Caufield and Byers.

Now, Twitter is in talks to raise a new round of financing for hundreds of millions of dollars, that will nearly double the site's valuation. The WSJ reports that the investors involved in this round are not known.

Twitter had 139 million unique visitors in May, with 27 million of those coming from the U.S., according to comScore.

It's been projected that the company will make $150 million in revenue off advertising this year.

Twitter recently saw its co-founder Jack Dorsey return to the fold, as fellow co-founder Biz Stone departed the company.

Twitter's valuation comes at a time where a number of notable tech companies are caught up in IPO fever, including LinkedIn and Pandora, who have already made their bow, and Zynga and Groupon, who will make their initial public offerings later this year at valuations of $10-15 billion and $25 billion respectively.