Social networking site Twitter files for a $1 billion IPO


Twitter, an online social networking and microblogging service, filed on Thursday with the SEC to raise up to $1.0 billion in an initial public offering. The San Francisco, CA-based company, which was founded in 2006 and booked $448 million in sales for the 12 months ended June 30, 2013, plans to list under the symbol TWTR and has yet to announce an exchange. Twitter initially filed confidentially on July 12, 2013. Goldman Sachs, Morgan Stanley, J.P. Morgan, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.

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