Twitter's Biz Stone denies talks with JPMorgan

Twitter is not planning to go public in the near future or raise additional funds, according to co-founder Biz Stone.

Stone told Reuters that recent reports that JPMorgan Chase is in talks to acquire 10 percent of the micro-blogging service are "made up." The Wall Street Journal reported the financial giant would pay $450 million for a stake in Twitter earlier this week.

Twitter raised $200 million in a December round of funding. The firm's shares are also hotly traded on private markets despite the lack of public information on the company's financials.