Twitter plans to raise $1bn in IPO

Social networking company Twitter has said it plans to raise $1bn (£619m) in its stock market debut in documents filed with US regulators. In the filing, revealed on Thursday, the seven-year-old company said that it now has 218 million monthly users and that 500 million tweets are sent a day. It made a loss of $69m in the first six months of 2013, on revenues of $254m. It will be the largest Silicon Valley stock offering since Facebook's listing in 2012. Analysts said that the offering wasikely to get a good response. "Social media is red hot," said Internet analyst Lou Kerner. "Twitter is front and centre benefiting from market enthusiasm for all things social, and remarkably strong metrics." Financial details Please turn on JavaScript. Media requires JavaScript to play. //

Twitter plans to raise $1bn in IPO 2013-10-05T12:05:00-07:00 Rating: 4.5 Diposkan Oleh: Undercover 999