Sunday 20 April 2014

Twitter picks NYSE for IPO

In a big blow for the Nasdaq, microblogging company Twitter has chosen the New York Stock Exchange (NYSE) for its forthcoming IPO – one of the year's most anticipated floats. Facebook's launch on the Nasdaq was initially plagued by trading glitches and competitor NYSE has been on a mission to lure more technology companies.

Twitter – where everybody from President Obama to Pope Francis tweets thoughts – has seen losses continue to widen, but then so has revenue, which more than doubled in the third quarter to €124m. The social media company has more than 231 million active monthly users.

Sunday Independent

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