Twitter

TwitterTwitter has just filed for its long-anticipated IPO. The company is looking to raise $1 billion in this initial offering, which is set to mint many millionaires among shareholders and founders like Ev Williams, Jack Dorsey and Biz Stone. Currently, the filing does not list a valuation, and sources are saying that’s because they have yet to determine one. Twitter’s revenues have been revealed for the first time, as well. Revenues for 2012 were $316.9 million, for a loss of $79.4 million and in the first half of 2013 they’ve already earned $253.6 million for a loss of $69.3 million. That’s just above estimates from last year but well below tracking of over $600 million for the year. Overall, Twitter has lost $418.6 million since it began. Twitter will be offering up 472,613,753 shares of stock in this initial release.

Read the full story at TechCrunch.

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