Twitter's IPO finds a home as monthly active users jump to 232 million
15th Oct 2013 | 23:45
TWTR IPO madness expected to kick off Nov. 15
After botching Facebook's IPO, the Nasdaq has lost out on another social network's listing.
Twitter today revealed that it's heading to the New York Stock Exchange when it's $1 billion (about £62.5m, AU$1.48b) IPO hits the Street. The NYSE is hopped up on the decision, telling AllThingsD Twitter's choice is a bonafide win over other listing locales.
Good on the SE, but prepare for Twitter's road show (when it tries to secure funding) to hit the gas Oct. 25 followed by an expected trading debut on Nov. 15. Time to brush up your buy/sell skills if you plan on going big with the Bird.
Twitter's updated S-1 form, where the NYSE news found itself, also revealed some key figures for the microblogging site.
According to the filing, monthly actives users grew in the third quarter, jumping from 218 million to 232 million. Mobile users grew ever so slightly, though mobile ad revenue was up by 37%.
Overall revenue was up a mighty 106% since the first nine months of 2012, according to The Verge, but (there's usually a but) Twitter's losses skyrocketed 89% in that same time frame. In hard cash, that puts Twitter's losses at $133.9 million (about £83.8m, AU$140m).
The company has plenty of time to convince folks it's worth investing in, but it may be a hard sell.