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.