Twitter unseals IPO documents, hopes to raise up to $1 billion

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Posted: Friday, October 4, 2013 12:00 am

NEW YORK (AP) — Twitter has unsealed the documents for its planned initial public offering of stock and says it hopes to raise up to $1 billion.

The company also disclosed 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 now has about three weeks until it kicks off a road show to potential investors across the country.

The company has hoped to complete its offering by Thanksgiving, people briefed on the matter have said. But if the markets prove unwelcoming — a possibility if the government shutdown goes on for weeks — the company is likely to postpone the offering until next year.

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.”

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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