Gaming execs: Join 180 select leaders
from King, Glu, Rovio, Unity, Facebook, and more to plan your path to global domination in 2015. GamesBeat Summit
is invite-only -- apply here
. Ticket prices increase
on March 6 Pacific!
Twitter just got a little more expensive. The company raised its IPO price range to $23 to $25 dollars today, meaning it could be valued up to $13.9 billion by the time this is all over.
The company announced the price range increase in a filing today. The social media company is expected to go public this week on the New York Stock Exchange. Its ticker will be TWTR.
Originally, Twitter priced between $17 and $20, but seems to have gained some confidence as it closes its roadshow. It still plans on selling 70 million shares, which means it could earn as much as $1.7 billion dollars in the IPO.
In this filing, Twitter also updated its risk factor section that deals with litigation around intellectual property.
The company is scheduled to officially price its shares this Wednesday and hit the trading floor on Thursday. Twitter took advantage of the JOBS Act, which says a company can file to go public secretly if it makes less than $1 billion in revenue. It tweeted about this secret filing in September, only to release the actual filing a month later.
In 2012, Twitter made $316 million in revenue and has currently brought in $253 million for the six months ended June 30, 2013. The company still has net losses of $79 million for 2012 and $69 million for the six months ended June 30, 2013, however.
Twitter makes money off of advertising, which primarily takes the form of promoted tweets that it pushes out to its 200 million monthly active users. One hundred million of which use the social network every day. Mobile seems to be where it’s at for Twitter, as 65 percent of its advertising revenue came from the smaller devices.
The company’s seven underwriters include Goldman, Sachs & Co.; Bank of America Merrill Lynch; Morgan Stanley; J.P. Morgan; Deutsche Bank Securities; CODE Advisors; and Allen & Company LLC.
Twitter is a real-time information network that connects you to the latest information about what you find interesting. Simply find the public streams you find most compelling and follow the conversations. At the heart of Twitter are s... read more »
Powered by VBProfiles
VentureBeat is studying marketing automation
, and we’ll share the data with you.