Market Overview

Twitter Publicly Files S-1; Here is Everything You Need To Know (TWTR)

Making headlines Thursday after the close was the long anticipated public filing of Twitter's S-1, taking the social giant one step closer to its IPO.

The filing can be found here

In the filing, it was stated that Twitter is currently valued at $1 billion and will list under the symbol 'TWTR.' However, no exchange was listed in the filing.

Leading the offering (as reported previously) was Goldman Sachs (NYSE: GS), but also on the S-1 was Morgan Stanley (NYSE: MS), JP Morgan (NYSE: JPM), Bank of America (NYSE: BAC), and Deutsche Bank (NYSE: DB). Two boutique firms were also listed; Allen & Co and CODE Advisors.

Twitter's six-month sales were reported at $253.6 million at a loss of $0.15 per share, while active users were shown to be above 215 million, with over 100 million of those being daily active users.

Eighty-five percent of the company sales originated from advertising in 2013, and that number increased to 87 percent in 2013.

Major individual holders listed on the S-1 included founder Evan Williams with a 12 percent stake, early investor Peter Fenton with 6.7 percent, founder Jack Dorsey with 4.9 percent and company CEO Dick Costolo with 1.6 percent.

The filing reported five percent holders in the company including Rizvi Traverse, Spark Capital, Benchmark Capital, Union Square and DST.

GSV Capital (NASDAQ: GSVC) is also a known holder of Twitter, and spiked upon the announcement, settling at $15.90, a gain of almost four percent.

Following the news, other social media names like Facebook (NASDAQ: FB) spiked but quickly settled, while Yelp (NASDAQ: YELP) remained roughly flat.

Posted-In: Dick Costolo IPO Jack Dorsey S-1News IPOs Hot Tech Best of Benzinga

 

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