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Twitter makes IPO filing public, will look to raise $1 billion

Updated Oct 3rd, 2013 5:27PM EDT
Twitter IPO S-1

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In line with earlier reports, Twitter on Thursday made its IPO filing with the United States Securities and Exchange Commission public. Twitter filed an S-1 confidentially earlier this year, and it was able to do so because its annual revenue was less than $1 billion in 2012. The company’s S-1 is now public, shedding light on Twitter’s financials for the first time ahead of its upcoming initial public offering. The company will look to raise $1 billion with its IPO, and it will be underwritten by Goldman Sachs, Morgan Stanley and several other banks.

Twitter shares will trade under the ticker TWTR.

The company’s S-1 states that Twitter pulled in $316 million in revenue in 2012, and it posted a net loss of -$79.4 million. Twitter’s net loss through the first six months of 2013 totaled -$69.3 million on $253.6 million in sales.

Twitter has more than 215 million monthly active users according to its S-1, and the IPO means they can likely expect to see a whole lot more advertising in the future as Twitter comes under pressure to maintain revenue growth. It also almost certainly will lead to the death of our favorite third-party Twitter apps as they currently exist today.

Zach Epstein
Zach Epstein Executive Editor

Zach Epstein has been the Executive Editor at BGR for more than 10 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.

His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.

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