Twitter Plans to Earn $ 1 Bln on IPO

04.10.2013 10:55

Twitter — the world's biggest microblogging service — has made an official announcement about going IPO and is seeking to raise one billion US dollars.

The news broke three weeks ago, but it was only recently that the company has published its financial records, meaning that they want to prepare for the IPO as soon as possible.

The exact date of the Twitter's IPO is still unknown.

Private equity traders say that the company is worth more than $ 10 bln. Twitter going IPO is seen to become the biggest industry event since the Facebook's IPO in May 2012.

For eight years of being live Twitter attracted 218 mln users who make about 500 mln posts every day. Last year the company's profits amounted to $ 300 mln.

Twitter's founders, Evan Williams and Jack Dorsey, so far own the biggest company's share: two of them have almost 16% of the Twitter's share.




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