Accessibility links

Breaking News

Twitter Unveils IPO Filing; Aims to Raise $1 Billion

FILE - Twitter CEO Dick Costolo gestures during a conference at the Cannes Lions in Cannes, France, June 20, 2012.
Twitter will seek to raise $1 billion in the largest Silicon Valley IPO since Facebook’s 2012 coming-out party, according to an IPO filing made public on Thursday.

The eight-year-old service, the preferred communications tool for celebrities and politicians alike, gave potential investors their first glance at its financials.

Revenue almost tripled to $316.9 million in 2012, from $106.3 million in 2011. The filing also said about 65 percent of its revenue is from mobile users. However, the company has not made a penny in profits since 2010.

The service had 218.3 million monthly active users, on average, in the three months ended June 30. Three-quarters of its monthly active users are considered mobile users, it said in the filing.

Twitter intends to list common stock under the symbol “TWTR”.