Jawbone Will Become A $3.3 Billion Company, Thanks To A $250 Million Round Led By Twitter Investor Rizvi Traverse

Jawbone is raising $250 million at a $3.3 billion valuation, according to Recode's Kara Swisher.

Jawbone is a hardware company that makes fitness technology, speakers and sound systems.

Swisher's sources say a bunch of investors were scrambling to get into the deal but that Twitter investor Rizvi Traverse Management will be leading the round. Rizvi Traverse was Twitter's largest outside shareholder when it went public. Jawbone's previous investors, such as Andreessen Horowitz and Kleiner Perkins, are expected to invest as well.

Once this round closes, Jawbone will have raised nearly half-a-billion dollars. It was founded by Hosain Rahman in 1999. Here are some of its products:

The Jambox:

The Up fitness band: