November 4, 2013, 10:58 AM

Twitter boosts its IPO expectations

The micro-blogging site increased the price range for its shares to $23 to $25 apiece.

Zak Stambor

Managing Editor

Lead Photo

Twitter Inc. today increased the price range for its shares from $17 to $20 per share to $23 to $25 per share, according to a filing with the U.S. Securities and Exchange Commission. The new share prices value Twitter at $15.98 billion to $17.37 billion.

The social network plans to sell 70 million shares, which means its initial public offering could raise up to $1.75 billion. For the sake of comparison, Facebook set its share price at $38 when it went public last year and its IPO raised more than $18.4 billion. Facebook’s share price today is about $49.

Twitter is increasingly claiming more of marketers’ ad dollars. For instance, in the third quarter it generated $153.4 million in ad revenue, up 123% from $68.7 million in the same period a year earlier.

However, unlike Facebook prior to its IPO, Twitter has yet to turn a profit. Twitter says it lost $133.9 million in the first three quarters of the year, up from a $70.7 million loss in the same period a year earlier. Twitter says it lost $79.4 million in 2012, down from a $161.4 million loss in 2011.

Comments

Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!

Advertisement

Advertisement

Relevant Commentary

FPO

Jason Squardo / Mobile Commerce

Five tips for achieving high mobile search rankings

Searches on mobile devices will soon exceed those on computers, Google says. Retailers that keep ...

FPO

Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of Quill.com that will let customers and Quill ...

Advertisement

Advertisement