Last update: 06-Dec-2013 2:57 am
Friday, December 06, 2013
Trinidad & Tobago Guardian Online
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Twitter plans stock market listing
Twitter says it plans to join the stock market in the most hotly-anticipated flotation since Facebook’s last year. Referring to the official paperwork needed to join the market, the company tweeted: “We’ve confidentially submitted an S-1 to the SEC for a planned (initial public offering).” Investors value Twitter, founded in 2006 by Jack Dorsey, Biz Stone and Evan Williams, at more than $10b. Twitter gave no further details as to the timing or price of the offering.
The microblogging service is on track to post $583m in revenue in 2013, according to advertising consultancy eMarketer, up from $288m in 2012. Most of Twitter’s funding comes from advertising, with companies paying for “promoted tweets” that appear in users’ Twitter feeds. Advertisers are keen to target Twitter’s 200 million active users, who send more than 500 million tweets a day.
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