Twitter Files for IPO


twitterTwitter finally submitted its S-1 filing on Thursday, giving the world its first glimpse of Twitter’s finances and users. Twitter, which will list under the handle TWTR, boasts over 200 million monthly active users.

Co-founder Evan Williams stands to gain the most from an IPO, since he owns 12 percent of the company. Co-founder Jack Dorsey comes in second with 4.9 percent, and CEO Dick Costolo owns 1.6 percent, followed by other shareholders including Peter Fenton, Union Square Ventures, Spark Capital, and Rizvi Traverse.

The company’s initial valuation is expected to come in around $10 billion. The bad news? The filing also contained the news that Twitter has been losing money every year since 2011, with $69 million lost in the last six months.¬†Read more at New York Magazine.

{Andy Newscenter}