Twitter Gets Specific For IPO
October 3, 2013 at 2:53 PM (PT)
As Twittering its intentions almost a month ago (NET NEWS, 9/12) TWITTER has made public its prospectus for its upcoming IPO. The NEW YORK TIMES reports that TWITTER "plans to use the ticker symbol 'TWTR,' but didn’t specify a stock exchange. It also listed a $1 billion fund-raising target, a pro forma number meant to calculate listing fees."
The social network claimed to average 215 million users each monthly users, reporting revenue of $317 million in 2012, and $253 million for the first six months of this year. Even so, TWITTER reported a net loss of $79 million last year and $69 million for the first six months of 2013.
The company hopes to complete its IPO by THANKSGIVING, but should the government shutdown continue in the coming weeks, TWITTER is likely to postpone the offering until next year. In the meantime, TWITTER has about three weeks before it starts making presentations to potential investors across the country."