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
SAN FRANCISCO:
Twitter Inc will seek to raise $1 billion in the largest Silicon Valley IPO since Facebook Inc in 2012, according to an IPO filing made public on Thursday.
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."
Twitter Inc will seek to raise $1 billion in the largest Silicon Valley IPO since Facebook Inc in 2012, according to an IPO filing made public on Thursday.
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."