Twitter reveals key stats in IPO filing that values social network at $US12.8b

Twitter wants to raise up to $US1 billion with a partial float, implying the company is worth $US12.8 billion.

NBR staff
Fri, 04 Oct 2013

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.

They include:

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.

NBR staff
Fri, 04 Oct 2013