Twitter has announced its IPO in which the S-1 filing is now posted on the SEC website. Here are five fast facts you need to know.
1. It Will Trade Under The Symbol TWTR
Twitter Files For IPO and Kenny Powers makes it rain pic.twitter.com/oc63bkhONV
— Adrian E. Molina (@theadrianmolina) September 24, 2013
The New York Times points out that it has not announced which stock exchange it can be found on. The image seen above became pretty popular a few weeks ago after Twitter announced its plans for an IPO. However, the company may have a major issue to deal with before it enters the stock market.
2. Twitter Is Not Profitable
Surprisingly the company has lost money despite the desire for them to raise $1 billion dollars in their first round of an IPO. It lost $69.3 million in the first half of 2013. Tnarrowed its loss to $79 million last year reducing it from $128 million in 2011.
3. Jack Dorsey owns 4.9%, Ev Williams Owns 12%, Dick Costolo Owns 1.6%
Although Costolo is the CEO, his small share is no cause for alarm since his annual salary is 200,000. Unfortunately, Biz Stone is left out since he may have sold his stock before this plan came to fruition.
4. Twitter currently has 215 million active users
Thats a fraction of what Facebook has since Zuckerberg's social service has over 1 billion according to Business Insider.
They note that 75% of users access the site while 65% of its revenue comes from mobile.
5. Twitter Hopes To Be A Publicly Traded Company Before Thanksgiving
Twitter announced these plans in a secret filing a few weeks ago but Time claimed that Jack Dorsey's firm wants to be a publicly traded company before the holidays. Costolo has been leading an aggressive expansion campaign to provide more services for users. E-commerce features could come soon after a series of acquisitions so there may be hope for the microblogging service after this average IPO.