An innovative way to discover the story of Palestine
We examine the plight of Sri Lanka's war widows
04 Oct 2013 01:53 GMT | Business & Economy
Twitter has revealed its highly anticipated stock offering, with the hugely popular messaging platform stating that it seeks to raise $1bn.
The company unsealed the documents on Thursday, disclosing that it generated $317 million in revenue in 2012 and that it had more than 218 million active users as of the end of June, up 44 percent from a year earlier.
That compares with Facebook's nearly 1.2 billion and LinkedIn's 240 million.
The company disclosed last month that it had filed confidential IPO papers to start the process of going public. On Thursday, San Francisco-based Twitter Inc unsealed the papers with the Securities and Exchange Commission.
Twitter booked a larger loss in the first half of this year than a year earlier, but it grew revenue. The company lost $69.3m in the first six months of 2013, compared with $49.1m at the same time last year.
Revenue more than doubled to $254m from $122m.
Twitter did not say which stock exchange it plans to list its shares on, though the company said it intends to use the ticker symbol "TWTR".
The underwriters of the offering are Goldman Sachs, Morgan Stanley, JP Morgan, BofA Merrill Lynch, Deutsche Bank Securities and CODE Advisors.
Twitter's IPO has been long expected. The company has been ramping up its advertising products and working to boost ad revenue in preparation. But it is still tiny compared with Facebook, which saw its hotly anticipated IPO implode last year amid worries about its ability to grow mobile ad revenue.
Twitter's moneymaking potential has minted the company with an estimated market value of $10bn, based on the appraisals of venture capitalists and other early investors. The IPO could value it higher or lower.
PrivCo analyst Sam Hamadeh says he expects Twitter to aim for a market value of about $15bn when it prices its IPO.
Datasets from Twitter allows us to accurately gauge the level of polarisation across Egypt's political landscape.
Science & Technology, Egypt
US State Department spends $630,000 for popularity online.
Content on this website is for general information purposes only. Your comments
are provided by your own free will and you take sole responsibility for any direct
or indirect liability. You hereby provide us with an irrevocable, unlimited, and
global license for no consideration to use, reuse, delete or publish comments, in
accordance with Community Rules & Guidelines and Terms and Conditions.
Ahead of World Malaria Day, doctors urge governments to find solutions to prevent infection and death.
Health, Africa, Congo
EU politicians are scrambling for solutions after the boat disaster that drowned more than 800 migrants.
Migrants, Europe, Africa
Revolutionary video-sharing site marks a decade of life, but some question whether it has bettered humanity.
Internet, United States, Iran
Student leaders at prestigious School of Oriental and African Studies press for a severance of Israel university ties.
War & Conflict, Europe, Gaza: After the war
Thousands of Turks commemorate centenary of 1915 mass killings of Armenians, despite Ankara's refusal to admit genocide.
Human Rights, Politics
Prominent rights activist killed shortly after hosting an event on people missing in Balochistan at her Karachi cafe.
Kite-balloons and spectrometers - how community activists use DIY technology to investigate environmental polluters.
Environment, Science & Technology, US & Canada
The story of a young Chinese woman who sells her time online to earn money by helping strangers with their errands.
Business & Economy, Human Rights, China
Fault Lines investigates how the US helped create the world's newest nation, and then watched it spiral into civil war.
War & Conflict, Politics, South Sudan
An examination of the deep wound that remains at the heart of Turkish-Armenian relations.
War & Conflict, Politics, US & Canada