Report: Twitter Seeks $1 Billion Line of Credit

Twitter is reportedly seeking a line of credit between $500 million and $1 billion leading up to the company's IPO, according to the New York Post. The tactic is similar to one used by Facebook during it's pre-IPO run in 2012, and the money could be used to help Twitter expand even further in the months immediately before hitting the market

A Twitter spokesperson declined to comment on the report

JP Morgan Chase and Morgan Stanley are in talks with Twitter to provide the line of credit, according to the Post. The newspaper also reports that sources close to the situation confirmed a Twitter IPO will happen before the U.S. Thanksgiving. Twitter announced earlier this month that it filed S-1 documents with the U.S. Securities and Exchange Commission, but an official IPO date has not been set Read more...