Twitter Looking For Up to $1.4 Billion in IPO
Largest since Facebook
Twitter Inc. is seeking as much as $1.4 billion in the largest Internet initial public offering since Facebook Inc., betting it can convince investors of its ability to turn 500 million tweets a day into profits.
Twitter plans to sell 70 million shares at $17 to $20 each in the offering, according to a regulatory filing today. That would value the company at $10.9 billion at the top end of the range, cheaper than Facebook and LinkedIn Corp., based on the 544.7 million common shares outstanding after the IPO. The IPO is set to price Nov. 6, according to data compiled by Bloomberg.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?