Twitter announced a few weeks back that it had filed a S-1 form confidentially with the Securities and Exchange Commission. The form lists various details about a company’s business, including its financial details, and its filing is mandatory before a company seeks to go public. Twitter IPO is expected to be the second biggest tech IPO in recent times, after Facebook went public last year. Twitter has now made its IPO filing public, revealing that it hopes to raise $1 billion by puttings its shares for trading on the open market.
The S-1 filing also indicates that Twitter has 215 million monthly active users and that in the first six months of 2013, it brought in $253.6 million revenue. Twitter hasn’t made a profit though, its net loss has actually increased by 41 percent and now stands at $69.3 million. The reason why Twitter confidentially made the filing first is because it wanted to suppress the unnecessary hype that would have created, the JOBS act awards this luxury to emerging companies. The filing was actually made back in July, Twitter kept a lid on it until September. The lead underwriter for Twitter IPO is Goldman Sachs, while a number of other major financial institutions are involved as well. Since its now in the public domain, anyone can read the Twitter IPO filing, it will be a particularly interesting read for those who would be willing to invest in Twitter stock once it becomes available for purchase.
Next Story: Yahoo Sued For Keyword Scanning In Emails