Twitter has made its plans to raise up to $1 billion in public offering open for the first time. The company’s filing for IPO went live at the SEC yesterday, revealing Twitter’s figures to potential buyers. The disclosure saw Twitter admitting that it is generating revenue fast but is also losing money at the same time.
The company revealed that its revenue increased to $316.9 million in 2012, up from $106 million in 2011, while its net loss for 2012 was $79 million. In the first six months of 2013, the micro-blogging website’s revenue more than doubled, now standing at $245 million, offsetted by a new net loss figure that rose to $69 million as the expenses kept mounting.
Plans revealed (Image credit: Reuters)
Twitter says that 97 percent of its revenue came from advertising in the year 2013, a far cry from a relatively less 85 percent in 2012. The company also claims that the number of users it is seeing is steadily increasing. Twitter now sees 215 million monthly average users and 100 million daily active users. As far as its listing goes, Twitter has revealed that it has chosen TWTR as its ticker symbol. Surprisingly, it has still not made it clear whether it will be trading on the New York Stock Market or the Nasdaq Stock Market. As for now, the company must go through a “quiet-period” of three weeks and post marketing for shares, the IPO, led by Goldman Sachs will set a price for the shares. According to rumours, Twitter is looking to go public around Thanksgiving in November end. The company is reportedly planning to raise $1.5 billion with an offering of 50 million to 55 million shares priced at around $28 to $30 each,
ReadMore:Android Games
No comments:
Post a Comment