Twitter reportedly kicking off roadshow Oct. 25
- 17 October, 2013 20:03
Twitter reportedly is getting ready to begin its IPO roadshow on Oct. 28 and then begin trading on Nov. 15.
The company is set to hit the road and meet with high-level prospective investors, including Goldman Sachs, Morgan Stanley and JPMorgan, between Oct. 25 and Nov. 6, according to a report from CNBC.com, which cited unnamed sources.
The company is expected to price its stock soon after the roadshow ends and launch its initial public offering on either Nov. 8 or Nov. 15, CNBC.com reported.
Twitter did not respond to a request for comment.
The micro-blogging company made famous by the 140-character tweet, is launching its IPO in the shadow of social network rival Facebook's troubled IPO in 2012. After Facebook took a year to stabilize its stock price after a disappointing launch, investors on and off Wall Street may be hesitant to put their money behind another social network.
Earlier this week, Twitter submitted an updated S-1 filing to the U.S. Securities and Exchange Commission that showed the company lost almost as much money in the July-to-September quarter of this year as it did in the first six months of 2013.
However, the S-1 documents also showed that Twitter's revenue in the three-month period was $169 million, slightly more than double the revenue the company pulled in during the same quarter in 2012.
Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at @sgaudin, on Google+ or subscribe to Sharon's RSS feed. Her email address is firstname.lastname@example.org.
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