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Twitter Finally Files IPO, Reveals Growing Revenue, Lack of Profits

by Brandon Russell | October 3, 2013October 3, 2013 3:00 pm PDT

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For a service that’s popular for its brevity, Twitter sure took a long time to go public. On Thursday, the social network unveiled the S-1 documents for its IPO of $1 billion, which revealed the San Francisco-based company saw revenue of $316.9 million in 2012, and $253.6 million during the first half of this year. Its userbase is at the 215 million mark, Twitter said, up from 200 million in December of last year.

After a preliminary 21-day period, shares are expected to begin trading in November under the ticker symbol TWTR. Twitter first filed for its IPO back in July, though didn’t publicly reveal its plans until September through, of course, Twitter. The company actually managed to keep everything under wraps thanks to the Jumpstart Out Business Startups Act (JOBS), hoping to avoid the disastrous IPO experience Facebook endured.

Despite seeing terrific revenue this year and last, the company actually saw net losses of almost $80 million in 2012 and nearly $70 million (so far) in 2013. The social network’s userbase as still on an incline, though, but it’s nowhere near that of Facebook, which is over one billion. Still, Twitter has become more than just an obscure microblogging service, evolving into a premier news source since launching seven years ago.

AllThingsD

Brandon Russell

Brandon Russell enjoys writing about technology and entertainment. When he's not watching Back to the Future, you can find him on a hike or watching...

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