Twitter Files for $1 Billion IPO

Twitter filed on Thursday to raise $1 billion in its public offering in the coming weeks and list under with ticker "TWTR."

The company filed an S-1 form with the Securities and Exchange Commission, which revealed that it now has 218.3 million monthly active users in the second quarter, more than 100 million daily active users and 500 million tweets per day

Twitter also said it generated revenue of $316.9 million in 2012 and is on pace to do better than that this year, with revenue of $253.6 million in the first six months of this year. However, the company is not consistently profitable: It lost nearly $80 million in 2012 and reported a net loss of $69 million in the first six months of this year Read more...