Twitter makes IPO filing public, will look to raise $1 billion
In line with earlier reports, Twitter on Thursday made its IPO filing with the United States Securities and Exchange Commission public. Twitter filed an S-1 confidentially earlier this year, and it was able to do so because its annual revenue was less than $1 billion in 2012. The company’s S-1 is now public, shedding light on Twitter’s financials for the first time ahead of its upcoming initial public offering. The company will look to raise $1 billion with its IPO, and it will be underwritten by Goldman Sachs, Morgan Stanley and several other banks.
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Twitter shares will trade under the ticker TWTR.
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The company’s S-1 states that Twitter pulled in $316 million in revenue in 2012, and it posted a net loss of -$79.4 million. Twitter’s net loss through the first six months of 2013 totaled -$69.3 million on $253.6 million in sales.
Twitter has more than 215 million monthly active users according to its S-1, and the IPO means they can likely expect to see a whole lot more advertising in the future as Twitter comes under pressure to maintain revenue growth. It also almost certainly will lead to the death of their favorite third-party Twitter apps as they currently exist today.
This article was originally published on BGR.com
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