4 Oct 2013

Twitter Files For $1 Billion IPO




Twitter has just filed for its long-anticipated IPO. The company is looking to raise $1 billion in this initial offering, which is set to mint many millionaires among shareholders and founders like Ev Williams, Jack Dorsey and Biz Stone. Currently, the filing does not list a valuation, and sources are saying that’s because they have yet to determine one.

Twitter’s revenues have been revealed for the first time, as well. Revenues for 2012 were $316.9 million, for a loss of $79.4 million and in the first half of 2013 they’ve already earned $253.6 million for a loss of $69.3 million. That’s just above estimates from last year but well below tracking of over $600 million for the year. Overall, Twitter has lost $418.6 million since it began.

Twitter will be offering up 472,613,753 shares of stock in this initial release. Twitter says that it currently has 218.3 million monthly active users, and those users have created over 300 billion tweets. That MAU number is significantly lower than many had expected at this point as they announced that they had 200 million MAUs in December. Twitter says that it delivers over 200 billion tweets per day.


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