Twitter Files for US$1 Billion IPO

Twitter Files for US$1 Billion IPO

It was rumored that Twitter may file for IPO this week. We now have confirmation that the social media platform has indeed going the IPO route and will be offering a grand total of 472,613,753 shares of stock in order to raise US$1 billion. The IPO will be led by Goldman Sachs and other underwriters include Morgan Stanley, JP Morgan, BofA Merrill Lynch, Deutsche Bank Securities, and CODE Advisors.

As part of the S-1 form required for IPO proceedings Twitter has also released information regarding its revenues. In 2012 Twitter earned a total revenue of US$316.9 million. However for the first half of 2013 Twitter has already posted a revenue of US$253.6 million. What is interested to note however is that in 2012 the net loss for Twitter was US$79.4 million and the net loss for the first half of 2013 is stated as US$69.3 million.

With Twitter still not being profitable, its main strength still is the 218 million monthly active users and the fact that this number keeps on growing. Expect Twitter shares (TWTR) to be start being traded in November 2013.

Source: Twitter S-1 Form via Arstechnica

All News Categories

Obsessed with technology?
Subscribe to the latest tech news as well as exciting promotions from us and our partners!
By subscribing, you indicate that you have read & understood the SPH's Privacy Policy and PDPA Statement.