Twitter chooses NYSE

By Marc Castro

Oct 15, 2013 10:28 PM EDT

Twitter Inc had announced last Tuesday a three fold increase in its quarterly losses at a time it is deep in preparations for its IPO listing at the New York Stock Exchange. The Twitter IPO is amongst the most anticipated IPOs this year.

The microblogging service had decided to go with the NYSE is a punch in the gut for the technology heavy NASDAQ, which previously shot itself in the foot with the Facebook 2012 IPO. Now, the online messaging service would be kicking off its roadshow to pitch its offer to Wall Street investors before trading starts by mid-November. The plan was confirmed by two sources familiar with the ongoing activities.

In its amended IPO filing dated Tuesday, the company had indicated it had sustained the recent pace of revenue amounts and user expansion for the quarter ending September 30. This was the case despite the losses have continued to increase.

The company had more than doubled its revenues for the third quarter with USD186.6 million but net losses though have increased to USD64.6 million for September compared to USD21.6 million in the previous year.

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics