Twitter going public, but not yet profitable
Twitter has made public its papers for an S-1 Initial Public Offering.
It is not 140 characters long, though the company did send out a tweet before releasing its plans to the SEC.
We’ve got new details on the inner workings of the social network known for brevity. For one, Twitter wants to raise a cool billion dollars — at least — when it opens its doors to Wall Street. A nice big number considering the fact that like so many tech companies, Twitter isn’t profitable yet.
Listen to our full interview with Quartz senior editor Zach Seward:
The IPO documents were made public on the Securities and Exchange Commission web site on Thursday, and in the documents we learned that the company intends to trade under the ticket symbol “TWTR”. But, in one of the most closely watched decisions, Twitter declined to select an exchange: Either the Nasdaq or the NYSE.
There’s been talk for months about whether the popular micro-blogging site would go public. But Twitter’s filing was a bit unconventional.
The company filed for an initial public offering of stock with the help of a provision in the JOBS Act.
Click here to listen to more about Twitter’s news.
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