Twitter (TWTR) Files for IPO, Seeks to Raise $1 Billion

Twitter (TWTR): Files For $1 Billion IPO

Long anticipated, Twitter has filed their S-1 Statement with the SEC, moving forward with their plans for an IPO this year. Twitter will list under the symbol TWTR. A few key notes from the S-1 Statement

  • Twitter had 218 million monthly active users as of 6/30/2013, an increase of 44% year over year. Of the 218 million, 169 million are international users.
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  • Twitter’s 218 million active users tweet over 500 million tweets per day.
  • Revenue for the first 6 months of 2013 of $253.6 million, an increase of 107% over the first half of 2012.
  • Twitter generates 65% of their advertising revenue from mobile devices.
  • Net loss for the first half of 2013 was $69.3 million, an increase of 41% year over year.
  • Adjusted EBITDA increased from $0.7 million for the first 6 months of 2012, to $21.4 million in the same period this year.
  • Twitter is using “Timeline Views” rather than pageviews to measure their ability to monetize their platform. Twitter defines timeline views as the total number of timelines requested when registered users visit Twitter, refresh a timeline or view search results while logged in on our website, mobile website or desktop or mobile applications.
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  • Twitter defines advertising revenue per timeline view as advertising revenue per 1,000 timeline views during the applicable period. In the three months ended June 30, 2013, Twitter’s advertising revenue per timeline view was $0.80, a 26% increase YOY. In the three months ended June 30, 2013, TWTR’s advertising revenue per timeline view in the US was $2.17 and $0.30 in the rest of the world, increases of 26% and 111% from the three months ended June 30, 2012, respectively.
  • Twitter has raised $759.2MM in Series A thru G convertible preferred stock rounds

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.

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