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Thursday, November 7, 2013

Twitter stock market flotation values the company at £8.8 billion

Twitter is valuing itself at $14.2 billion (£8.8 billion) when it launches on the New York stock exchange today. It’s pricing its Initial Public Offering of 70 million shares at $26 each, which will raise $1.82 billion.

The micro-blogging site had previous estimated a price range of $17-$20 per share and later increased that to $23-$25.

It’s notable that Twitter still hasn’t made a profit. Its most recent quarterly figures showed revenue more than doubling year-on-year to $168.6 million but its net loss more than tripling to $64.6 million.

[More details: The Guardian; BBC News, The Next Web]

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