It’s been over a year since Facebook, Inc. became a publicly traded company. The social network giant now boasts a healthy price of $52 (+/-) a share. Now it’s Twitter’s turn.
Early Thursday, Twitter teased followers and future investors by disclosing plans to offer initial public offerings (IPO) of $17 to $20 a share. The second most popular social networking site plans to sell 70 million shares, which will net at least $1.2 billion and value the company at nearly $12 billion.
How would Twitter’s value rank among other web giants?
- Facebook $127 billion
- Yahoo $35 billion
- Twitter $12 billion
- AOL $3 billion
Twitter, like other social media sites, has touted the value of using its platform for businesses (small and large) to engage with customers. And as company executives begin traveling cross country to meet with investors, it’s likely that advertising revenue will be a key selling point.
Shares could begin trading on the New York Stock Exchange under the ticker symbol “TWTR” as soon as November 7th, 2013.