Answering a query on whether or not Twitter will raise another round of funding to make it worth $3bn, the microblogging site co-founder Evan Williams said, "We have a lot of money in the bank".

Speaking at the Web 2.0 Summit at San Francisco on Thursday, "There's a million ways for us to make money," he added.

Williams also noted that Twitter is in talks with Facebook about ways in which the two companies could cooperate.

He expressed concern over Facebook blocking Twitter from integrating its service with the social networking site, thus preventing Facebook users from seeing which of their friends are also on the microblogging site.

"We have this treasure of too much information, and that's very empowering and helps us all, but it's clearly becoming more and more of a problem," Williams added.