Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Twitter IPO big pay day for investors

Friday, October 04, 2013 - 01:18

Oct. 4 - Twitter's revenue tripled last year, according to IPO documents made public, just part of what is driving heavy interest in its plans to raise more than a billion dollars- potentially making its backers a lot of cash. Bobbi Rebell reports.

▲ Hide Transcript

View Transcript

140 characters at a time - Twitter has become what will likely be the largest Silicon Valley IPO since Facebook. Even though Twitter lost money the last three years, revenue tripled last year. And many analysts say Twitter's losses are a non-issue-because they have been attracting more advertisers. Twitter may be only eight years old but this deal, which aims to raise a billion dollars, and could make the company worth about $15 billion is going to make a lot of people very wealthy. Top shareholders include Co-founder Evan Williams - the biggest shareholder at 12 percent. Benchmark Capital has a 6.7 percent stake. Co-Founder Jack Dorsey has close to 5 percent. Current CEO Dick Costolo has about one and a half percent. And this guy, Hollywood investor Suhail Rizvi, head of under the radar Rizvi Traverse. Notice, there is no picture. He's a little secretive. He actually pays someone to scrub his picture from the internet. But Reuters found out he has spent more than a billion dollars to build a 15 percent stake in Twitter over the last two years. We did ask him to comment but he, shockingly, declined. As for the IPO: If all goes well Twitter could begin trading in November. Ticker TWTR. Which exchange? That is TBA - as in still undecided.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Twitter IPO big pay day for investors

Friday, October 04, 2013 - 01:18