The retailer’s latest designer line sold out soon after the products went live, and few if any of the 250 items are in stock ...
The social network says its share price will be between $17 and $20.
Twitter Inc. says it is worth at least $12 billion, according to its filing today with the U.S. Securities and Exchange Commission.
The social network says it will price its shares between $17 and $20. Given that the company plans to sell up to 70 million shares, the initial public offering could raise up to $1.4 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 $52 and its market value roughly $127 billion.
Twitter is increasingly garnering marketers’ ad dollars. For instance, in the third quarter it generated $153.4 million in ad revenue in the third quarter, 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 will list its shares on the New York Stock Exchange.