Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.Launch Radio player
Twitter has revealed key financial stats in a filing for its inital public offering (IPO).
The social network is seeking to raise $US1 billion by floating 10% of its shares, valuing the company at $US12.8 billion.
- Revenue more than doubled to $254 million in the first six months of this year
- Its net loss grew by 40% to $69 million as the company's expenses ballooned
- Twitter had 218.3 million average monthly active users in the three months ending June 30, up 44% from the year-ago period (Facebook claims more than 1 billion users)
- About 500 million tweets are posted per day
- 75% of users accessed Twitter through a mobile device in the quarter ending June 30
- More than 65% of ad revenue was from mobile device in the June quarter
- The major individual shareholders are Twitter cofounders Ev Williams with 12.0%, Jack Dorsey (4.9%) and CEO Dick Costolo (1.6%)
- Major institutional shareholders with more than 5% of the company–the exact amount is not revealed in the filing–are Rizvi Traverse, Spark Capital, Benchmark, Union Square Ventures and DST. Benchmark, however, apparently owns about 6.7%, according to the filing.
This article is tagged with the following keywords. Find out more about MyNBR Tags