Twitter Will Go For $26 Per Share Starting Thursday
On Thursday, Twitter will begin trading on the New York Stock Exchange under the stock symbol TWTR, with underwriters of the IPO expected to price shares in the company at $26 a pop. Last month, the company submitted a public filing with the Securities Exchange Commission that, as Bustle reported, contained a lot of revelations about the company’s user base and finances that had previously been kept under wraps:
Between April and June of this year, the company averaged 218.3 million users per month, up from 85 million during the same period last year. Think about that: The company more than doubled its monthly traffic between last year and now. We’re kind of surprised there were enough people not using Twitter for it to grow at that rate.
In addition, the filing contained the first public figures on the company’s profits and revenues. It turns out that, while it’s revenue is increasing at a pretty impressive rate, it’s still losing money on the whole. Revenues almost tripled between 2011 and 2012, from $106 to $319 million, but the company still faced a net loss of $79 million in 2012.
The company announced that it was going public in September, but its share price remained a mystery until now. Goldman Sachs, JPMorgan Chase and Morgan Stanley are the lead underwriters of the offering.