Twitter unveils IPO filing, aims to raise $1 billion
Company's IPO revealed about 65% of its revenue derived from mobile users. But has not made any profits since 2010.
An illustration picture shows the log-on icon for the Website Twitter as it seeks to raise $1 billion in the largest Silicon Valley IPO since Facebook Inc in 2012. PHOTO: REUTERS
The eight-year-old service, the preferred communications tool for celebrities, politicians and journalists 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 per cent of its revenue derives from mobile users. But the company has not made a penny in profits 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."
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