Twitter Tuesday with the U.S. Securities and Exchange Commission a revised version of the prospectus shows that the company in an initial public offering (IPO) before, has been awarded a $ 1 billion line of credit.
Reuters reported earlier this month, investment bank Goldman Sachs, Morgan Stanley, JP Morgan Chase, Bank of America / Merrill Lynch, Deutsche Bank, are involved in the credit transaction, these banks are also on Twitter IPO underwriters. Twitter prospectus shows that the company has not yet use this line of credit. It is reported that Goldman Sachs will provide $ 150 million Twitter credit line, Morgan Stanley and JP Morgan Chase will provide $ 250 million credit line.
Twitter IPO, Facebook will be the last year since the IPO, most market attention social media company ‘s initial public offering. Twitter is expected to begin in mid-November this year, the New York Stock Exchange.
Twitter has also disclosed in the prospectus, the company acquired in September this year, the company MoPub innovative digital advertising in the first six months to achieve revenues of $ 6.52 million, higher than last year’s $ 2.69 million, but the loss of $ 2.8 million. Twitter worth $ 350 million to the stock acquisition MoPub yuan, becoming the company’s biggest acquisition to date scale. Twitter prospectus disclosure, this transaction is expected to be completed in November.
Facebook and social game developer Zynga IPO before, the two companies have received a credit line. Facebook in 2012 through underwriters received $ 8 billion credit line, Zynga in 2011 when the IPO received a $ 1 billion credit line. Wedbush Securities analyst Michael Pachter (Michael Pachter) that, Twitter can be used for the acquisition line of credit. The analyst said, ” $ 1 billion of the amount of funds required to operate far beyond Twitter.” Sources, Twitter plans IPO to raise funds of more than $ 1 billion. Twitter CFO Mike Gupta (Mike Gupta) had previously been responsible for Zynga’s IPO issues.
Advance to the mobile services
Twitter last month to $ 350 million in stock acquired MoPub. This transaction aims to further deepen the company’s mobile advertising business. Twitter prospectus, the company’s 76% of users for mobile users, 70% of advertising revenue from the mobile business. Through the acquisition MoPub, Twitter will be able to be extended to other mobile advertising business applications, and real-time bidding system to increase the platform.
Twitter ‘s revenue in the third quarter grew more than doubled from last year’s $ 82.3 million to $ 168.6 million U.S. dollars ; But the company ‘s net loss widened to $ 64.6 million, far exceeding the previous year ‘s net loss of 21.6 million dollars. In accordance with 231.7 million monthly active user computing, Twitter third quarter average revenue per user is $ 0.73, less than Facebook 1.60 U.S. dollars per user average revenue of the half.