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Tags: Twitter | IPO | filing | billion

Twitter Unveils IPO Filing, Aims to Raise $1 Billion

Thursday, 03 October 2013 05:41 PM EDT

Twitter Inc. will seek to raise $1 billion in the largest Silicon Valley IPO since Facebook Inc's 2012 coming-out party, according to an IPO filing made public on Thursday.

The eight-year-old service, the preferred communications tool for celebrities and politicians alike, gave potential investors their first glance at its financials.

Revenue almost tripled to $316.9 million in 2012, from $106.3 million in 2011. It said about 65 percent of its revenue derives from mobile users. Still, the company has not made a penny in profit since 2010.

The service had 218.3 million monthly active users, on average, in the three months ended June 30. Three-quarters of its monthly active users are considered mobile users, it said in the filing.

Twitter intends to list common stock under the symbol "TWTR."

© 2024 Thomson/Reuters. All rights reserved.


InvestingAnalysis
Twitter Inc. will seek to raise $1 billion in the largest Silicon Valley IPO since Facebook Inc.'s 2012 coming-out party, according to an IPO filing made public on Thursday.
Twitter,IPO,filing,billion
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2013-41-03
Thursday, 03 October 2013 05:41 PM
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