For the forthcoming share placement on the Stock Exchange, Twitter has chosen the New York Stock Exchange and not its rival Nasdaq. The latter, a traditional technology marketplace for stocks, recovered from mistakes and technical problems during high-profile placements such as Facebook in May 2012.
The microblogging company, in a new filing with the SEC, also announced that it had incurred losses in the third quarter of the year equal to 64,6 million dollars against 21,6 million in the same period last year. Massive R&D and marketing expenses compounded the liabilities. On the other hand, turnover showed continuous growth, doubling to 168,6 million.
Access to Twitter from mobile devices, smartphones and tablets resulted in advertising sales of 70% against 65% in the immediately preceding three months. Average monthly users increased by 6% to 232 million, but the pace of growth slowed compared to the second quarter.
Twitter's two main shareholders today are private equity firm RizviTraverse with 17,9 percent and JP Morgan with 10,3 percent.
