One of the eagerly awaited tech companies to go public has released the most extensive details since its initial prospectus filing last month. The N.Y. Times has announced more financial data of the IPO filing Thursday afternoon. Nick Wingfield of the N.Y. Times reports that 85% of the revenue to Twitter is advertising.
In its second quarter this year, Twitter reported 218.3 million average monthly active users, up 44 percent from the same time a year.
Despite revenue increase to $317million in 2012 vs. $106 million in 2011, it still reports a loss of $79 million in 2012, which is down from $128 million in 2011.
The advertising contribution to revenue comes from over 65% from mobile devices in the three months ended on June 30. Tweets from smartphones account for 75% of the tech device used to tweet.
Its cash holding is about $376 million and seeks to raise $1 billion through the public offering.
Twitter growth was reported as 218.3 million monthly active users at the end of the second quarter, which is up 44% from same quarter end last year.
The social network tech company plans to use the symbol “TWTR”. Although the company has planned to complete its offering by Thanksgiving, the government showdown has not helped. Fear of unwelcoming markets due to this recent upset is creating caution and perhaps holding until 2014 for IPO release.
According to the prospectus, the largest share owners of Twitter are Evan Williams, who owns about 12 percent of the company, and Peter Fenton of Benchmark Capital, who owns 6.7 percent.
Firms that own about 5 percent of the company include the investment firms Rizvi Traverse, Spark Capital and Union Square Ventures.
The battle for months between Wall Street firms has Goldman Sachs winning the fight and is serving as lead underwriter along with Morgan Stanley and JP Morgan Chase.
Michael J. De La Merced and Vindu Goel have compiled the IPO data for the N.Y. Times report for the afternoon October 3 online edition.