Twitter is nearing a deal for as much as $100 million from a group of investors who say they believe the internet short messaging giant is worth about $1 billion, The Wall Street Journal reported on its web site.

A group of investors including mutual fund giant T Rowe Price and several private equity firms and venture capital companies are expected to sign the deal with Twitter soon.

The money will give Twitter more time to figure out a business model. Twitter currently brings in no steady revenue and has only recently talked about working out advertising deals next year.

A spokesman for T. Rowe Price declined to comment on the deal.

Insight Venture Partners, a private equity firm, as well as Spark Capital and Institutional Venture Partners are other groups involved in the current Twitter deal, the Journal says.