Twitter’s IPO filing is out!
We’re reading it over now.
Revenue is $US254 million through six months, that’s up from $US122 million a year ago.
The company is losing money. Through six months, its net loss is $US69 million, which compares to a loss of $US49 million last year.
It has 215 million monthly active users, which is relatively small. (Facebook has over 1 billion, for comparison.)
Of that, 75% are using Twitter on a mobile device. It also says that 65% of its revenue is mobile.
Twitter recognises that its user base is rather small, saying in the filing, “We believe that there is a significant opportunity to expand our user base. Industry sources estimate that as of 2012 there were 2.4 billion Internet users and 1.2 billion smartphone users, of which only 215 million are monthly active users of Twitter.”
The stock will trade under the symbol “TWTR”.
The company is looking to raise $US1 billion from its IPO. It currently has $US164.5 million in cash on hand, and it is cash flow negative. It burned $US38 million in the last six months.
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Here’s all the high level financial details: