Twitter files for $1 billion IPO
Twitter's net loss decreased by 38 percent to $79.4 million, according to the filing with the Securities and Exchange Commission (SEC). Twitter's stock ticker symbol would be TWTR. The filing indicates Twitter hopes to raise up to $1 billion.
The company said the number of shares of our common stock that will be outstanding after this offering "is based on 472,613,753 shares of our common stock," including preferred stock.
The most important and revealing piece of information in the S-1 filing is how many users Twitter has. On September 12, Twitter announced via Tweet that it filed for an IPO, but the company is only now releasing the S-1 filing publicly as part of the Jumpstart Our Business Startups Act. The JOBS Act, signed into law in April 2012, permits companies with less than $1 billion in annual revenue to file a confidential S-1. ■