Twitter files IPO, to raise $1 billion

Twitter, the micro-blogging application firm,  has gone for public S-1 filing IPO on Thursday and plans to raise $1 billion.

Twitter public files its S-1 statement, giving investors the information about company’s financials and other key details.

Founded in 2006, Twitter has never been profitable and has history of losses totaling $419 million since its inception. But its revenue is growing. In terms of revenue, Twitter touched $317 million in 2012 and had a net loss of $79.4 million.

The company was founded in 2006 and had more than 218 million active users across the globe by the second quarter of 2013, up 44 percent from a year earlier. As per second quarter, 2013 around three-quarters of Twitter users tweets from mobile device and 65 percent of its advertising revenue comes from mobile.

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