Consumers are more likely to respond and interact with brands’ posts and ads on Friday than any other day of the week, according to ...
Twitter boosts its IPO expectations
The micro-blogging site increased the price range for its shares to $23 to $25 apiece.
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.