February 13, 2014 / 6:20 PM / 6 years ago

Jawbone raises $250 million, valuing company at $3.3 billion

Hosain Rahman, co-founder and chief executive of Jawbone, attends the wearable computing panel during Reuters Global Technology Summit in San Francisco, June 17, 2013. REUTERS/Stephen Lam

SAN FRANCISCO (Reuters) - Jawbone, a maker of headsets and a fitness-tracker product, is in the process of raising $250 million in a deal that would value the company at $3.3 billion, a source familiar with the deal said on Thursday.

Rizvi Traverse Management, the New York private-equity fund known for its investments in microblog site Twitter and payments service Square, is leading the round, the source said.

San Francisco-based Jawbone last raised $90 million in debt plus $20 million in equity in September. Not including the latest round, investors have poured around $370 million into the business, known for its wireless speakers, headsets and its wristband fitness-tracker, Up.

A spokeswoman for Jawbone did not immediately respond to a request for comment.

Existing backers include Andreessen Horowitz; Kleiner Perkins Caufield & Byers; Khosla Ventures; and Sequoia Capital.

The news was first reported by the online news site Re/code.

Reporting by Sarah McBride; Editing by Leslie Adler

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