Earlier today we reported that Twitter IPO price range will be unveiled soon, and the company has finally filed a new document with the SEC that details exactly how much it wants for the shares its willing to sell. According to the document, Twitter is going sell 70 million shares in the price range between $17 and $20. The microblogging network will raise nearly $1.4 billion dollars if we go by these figures, becoming the second biggest tech IPO since Facebook last year with the company itself valued at $10.9 billion.
IPO is now set to price on November 6th and some expect the IPO to be conducted prior to Thanksgiving. Twitter hasn’t said as yet exactly when we can expect its shares to be listed for open market trading. Twitter has already picked a exchange it wants to be listed on, the iconic New York Stock Exchange or the NYSE. The company didn’t go for Nasdaq, where Facebook is listed. One of Twitter’s biggest challenges is going to be convincing investors that it can generate money off of the tweets of its more than 200 million global users, Twitter may have doubled its annual revenue, but it is yet to turn a profit. We’ll have to wait and see what Twitter intends to do in the future in order to generate more revenue and value for shareholders.
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