SAN FRANCISCO — Twitter is closing a round of funding that will value the company known for its 140-character, stream-of-consciousness blogs at $1 billion, technology news site TechCrunch reported.

The company will raise around $50 million, and Chief Executive Evan Williams told employees about the funding round, TechCrunch said, citing multiple unnamed sources.

Twitter did not immediately respond to a call seeking comment.

A February round of funding led by Benchmark capital had valued the company at around $250 million, TechCrunch said.