Twitter Going Public, Reveals $1 Billion IPO Plan

Twitter Inc. on Thursday revealed plans to raise up to $1 billion in a public offering, looking to cash in on a messaging service that has transformed public conversation but is still losing money and facing challenges attracting new users and advertisers.

European Pressphoto Agency

Twitter CEO Dick Costolo

Twitter released the filing for its initial public offering on Thursday. The social media company did not specify the amount of shares or price range, but set a maximum amount for the deal at $1 billion. MarketWatch's Dan Gallagher reports. (Photo: Getty Images)

Potential buyers for the first time saw the financials behind one of the most anticipated stock-market debuts of the year, which showed the social network's revenue more than doubled to $254 million in the first six months of this year.

Twitter revealed plans to raise $1 billion in an initial public offering, looking to cash in on a service that has transformed public conversation but is still proving itself as a business. Telis Demos and Michael Chasen, SocialRadar CEO, discuss. Photo: Getty Images.

 

But its net loss grew by 40% to $69 million as the company's expenses ballooned. Twitter's user growth is also slowing, and prices for advertisements, which make up the bulk of the company's revenue, are falling.  Read more

Investment Opportunity Alert, Is Twitter Going Public?

Twitter said Thursday that it filed for an initial public offering, setting the stage for the most high-profile technology stock market debut since Facebook's troubled share sale last year.
Twitter announced the filing on its own social media messaging service, saying: "We've confidentially submitted an S-1 to the SEC for a planned IPO. This Tweet does not constitute an offer of any securities for sale."

First Take: Is the tech hype back with Twitter's IPO?

The company followed that up with a second tweet, saying "back to work" and attached a photo of employees at Twitter headquarters in San Francisco  read more