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Twitter Unveils IPO Filing; Aims to Raise $1 Billion


FILE - Twitter CEO Dick Costolo gestures during a conference at the Cannes Lions in Cannes, France, June 20, 2012.
FILE - Twitter CEO Dick Costolo gestures during a conference at the Cannes Lions in Cannes, France, June 20, 2012.
Twitter will seek to raise $1 billion in the largest Silicon Valley IPO since Facebook’s 2012 coming-out party, according to an IPO filing made public on Thursday.

The eight-year-old service, the preferred communications tool for celebrities and politicians alike, gave potential investors their first glance at its financials.

Revenue almost tripled to $316.9 million in 2012, from $106.3 million in 2011. The filing also said about 65 percent of its revenue is from mobile users. However, the company has not made a penny in profits since 2010.

The service had 218.3 million monthly active users, on average, in the three months ended June 30. Three-quarters of its monthly active users are considered mobile users, it said in the filing.

Twitter intends to list common stock under the symbol “TWTR”.
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    Reuters

    Reuters is a news agency founded in 1851 and owned by the Thomson Reuters Corporation based in Toronto, Canada. One of the world's largest wire services, it provides financial news as well as international coverage in over 16 languages to more than 1000 newspapers and 750 broadcasters around the globe.

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