Twitter picks the New York Stock exchange for its IPO

As Twitter continues to move closer to its IPO, more details of its plans are becoming clear — today, an S-1 form filed with the Securities and Exchange Commission revealed that Twitter will list on the New York Stock Exchange. That confirms a rumor from a few weeks ago that said the company was expected to choose the NYSE over Nasdaq, where Facebook is traded. Nasdaq suffered a number of difficulties in the days following the Facebook IPO, a time of trouble that eventually led to a $10 million settlement with the SEC. Scott Cutler from the NYSE called it a "decisive win" and said his organization was "grateful for Twitter's confidence in our platform."

The updated S-1 form also gave some new details on the company's financial performance — through September 30th of this year, Twitter took in $422.2 million in revenue. That's up 106 percent from revenue in the first nine months of 2012. However, the company's net loss also increased — the $133.9 million loss is 89 percent over the first nine months of 2012. As for monthly active users, they're up as well. At the end of September, the company touted 232 million active users, up from 218 million at the end of June. Unsurprisingly, mobile continues to be the company's biggest source of advertising revenue — 70 percent of it comes from mobile, up from 65 percent last quarter.

Source: http://www.theverge.com/2013/10/15/4842444/twitter-picks-the-new-york-stock-exchange-for-ipo
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