Twitter IPO plans revealed

Oct 3, 2013
1
Twitter IPO plans revealed

Just a moment ago, Twitter's filing for initial public offering went live at the SEC. This filing and the hype surrounding it include a variety of facts provided by the company to show potential buyers of their stock once it comes time to invest. In addition to the stock being made public here, Twitter went so far as to Tweet about it, too, straight from Twitter's Twitter, as it were.

In the official Form S-1 from the SEC, you'll find that the proposed maximum aggregate offering price for Twitter will be a cool $1 billion USD. Alongside this you'll find a registration fee of $128,800 USD, and statistics galore. These begin with Twitter saying they've got 215 million+ monthly active users with 500 million tweets per day, this running up an average of 500 million Tweets every single day.

Also according to the filing, Twitter lost $79.4M last year, and $69.3 million in the first half of this year. Twitter says 97% of its revenue comes from advertising in 2013, this compared to just 85% in 2012. Furthermore, Twitter says it had 218.3 monthly average users in the second quarter of this year, up 44% from the same time last year.

As for the stock itself, Twitter suggests that common stock outstanding after this offering will be as follows: "472,613,753 shares of our common stock (including preferred stock on an as-converted basis) outstanding as of June 30, 2013." This leaves the following:

- 44,157,061 shares of our common stock issuable upon the exercise of options to purchase shares of our common stock outstanding as of June 30, 2013, with a weighted-average exercise price of $1.82 per share;

- 59,913,992 shares of our common stock subject to RSUs outstanding as of June 30, 2013;

- 116,512 shares of our common stock, on an as-converted basis, issuable upon the exercise of a warrant to purchase convertible preferred stock outstanding as of June 30, 2013, with an exercise price of $0.34 per share;

- 27,002,040 shares of our common stock subject to RSUs granted after June 30, 2013;

- up to 14,791,464 shares of our common stock issuable upon completion of our acquisition of MoPub; and

- shares of our common stock reserved for future issuance under our equity compensation plans which will become effective prior to the completion of this offering, consisting of:

- shares of our common stock reserved for future issuance under our 2013 Equity Incentive Plan, or our 2013 Plan;

- 7,814,902 shares of our common stock reserved for future issuance under our 2007 Equity Incentive Plan, or our 2007 Plan (after giving effect to an increase of 20,000,000 shares of our common stock reserved for issuance under our 2007 Plan after June 30, 2013 and the grant of 27,002,040 shares of our common stock subject to RSUs granted after June 30, 2013), which number of shares will be added to the shares of our common stock to be reserved under our 2013 Plan upon its effectiveness; and

- shares of our common stock reserved for future issuance under our 2013 Employee Stock Purchase Plan, or our ESPP.

We'll be continuing to dig into Twitter's IPO as the day rolls along - once Twitter goes public, you'll see the changes begin to unfold in real time, as well. Have a peek at the timeline below to track Twitter over the past few weeks, and stay tuned!


Must Read Bits & Bytes