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Twitter hopes to raise $1 billion USD, unveils IPO documents
Social media micro-blogging behemoth Twitter says it aims to raise $1 billion (USD) as the company plans to go public with an Initial Public Offering, which it filed in September.
In files disclosed on Thursday, Twitter said its revenue for 2012 hit $317 million. The company also said it has 215 million active users. That's compared to Facebook's 1.2 billion and LinkedIn's 240 million. The three companies are often mentioned in the same breath, as they are the leaders in the social media/online platform world (along with Google-owned YouTube), although all three companies offer different services.
According the The Toronto Star (link above), Twitter's market value has been estimated at $10 billion. Shares could begin trading by November.
Twitter filed for its IPO on September 12, 2013, with underwriters Goldman Sachs, Morgan Stanley, JP Morgan, BofA Merrill Lynch, Deutsche Bank Securities and CODE Advisors.
The company has not yet said which stock market it will be listed on, but said it intends to use "TWTR" as its ticker.
Our S-1 will be filed publicly with the SEC momentarily. This Tweet does not constitute an offer of any securities for sale.
— Twitter (@twitter) October 3, 2013