Twitter (TWTR) Files For IPO: Submits Forms With SEC, Can Begin Trading In 21 Days

 @ryanWneal
on October 03 2013 5:44 PM
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Twitter submitted its application for IPO to the SEC on Thursday. Twitter

Just after 5 p.m. EDT Thursday, Twitter (TWTR) announced that it was ready to publicly file its S-1 for its initial public offering with the U.S. Securities and Exchange Commission. Twitter must now wait a minimum of 21 days before it can begin trading stocks.

 
 

The S-1 form reveals some important information about the company that previously had been kept private. In the first half of 2013, Twitter had $253.6 million in revenue against a net loss of $69.3 million. The major shareholders are Twitter co-founder Ev Williams with 12 percent, co-founder Jack Dorsey with 4.9 percent and CEO Dick Costolo with 1.6 percent.

The form also includes investors who own at least 5 percent of Twitter. While the exact amount is unknown, these investors are Rizvi Traverse, Spark Capital, Union Square Ventures and DST. The S-1 form does acknowledge that Benchmark owns about 6.7 percent of Twitter. 

Twitter’s S-1 revealed that Twitter has 218.3 million average monthly active users, a 44 percent increase from one year ago.

Twitter stated that it would use the stock ticker “TWTR,” but did not state which exchange it would trade on. Most analysts have predicted that Twitter is planning on going with the New York Stock Exchange. 

Twitter reported that 65 percent of its advertising revenue was generated from mobile devices. “We expect that the proportion of active users on, and advertising revenue generated from, mobile devices, will continue to grow,” the S-1 form said.

For comparison, only 41 percent of Facebook’s total ad revenue comes from mobile devices.  

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