Mark Your Calendars: Twitter IPO Could Take Shape in Two Weeks
It seems like every day there’s a new piece of data regarding Twitter’s (NYSE:TWTR) highly anticipated initial public offering leaked to the public. Some of it is useful — like speculation about when the company will begin to roadshow its financials with prospective investors (the last week of October, if unnamed sources who spoke to Bloomberg are correct) — while other information is more superficial, but interesting.
The latest bit ostensibly falls into the first bucket: people familiar with the company’s plans tell the Wall Street Journal that Twitter could set a price range for its IPO within the next day or two, laying to rest weeks of speculation on the issue. Twitter is reportedly set to raise $1 billion with its IPO, with a November 6 target target date, according to the New York Post.
Twitter has exercised extreme caution during the buildup to its IPO. In the eyes of many potential investors, the company falls into the same nebulous category of technology and Internet startups that Facebook (NASDAQ:FB) does, and as a result, carries some of the same dubious baggage. The platform is popular, but is it profitable? Revenues are increasing, but are they growing sustainably? Can mobile be monetized?