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Twitter files to raise USD 1 bln in IPO
2013-10-04 09:32:00| Telecompaper Headlines
(Telecompaper) Twitter as filed its general prospectus for an initial public offering of shares in the US. While the company has yet to fix how many shares it will sell or a price for the new stock, the document provides details on the messaging company's financial results for the first time. Twitter recorded revenue of USD 254 million in the first six months of this year, up from USD 122.4 million a year earlier, while its net loss swelled to USD 69 million from USD 49 million. Twitter reported an average 218.3 million monthly users in the second quarter, up 44 percent from a year earlier. Almost a quarter (49.2 million) were in the US, up 35 percent year-on-year, while users in the rest of the world were growing faster, up 47 percent to 169.1 million. The company said a good measure of its ability to monetise the service in the amount of revenue generated from each user viewing a timeline on the site or apps. This rose to USD 0.80 in ad revenue per 1,000 views in the second quarter, an annual increase of 26 percent. For the purposes of fixing a fee for the IPO filing, Twitter estimated it will raise USD 1 billion in the offering. It said it will use the proceeds to help fund general operating costs and an estimated USD 225-275 million in capital expenditure this year.
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Category:Telecommunications