Twitter Inc hoped to encourage investors with rip-roaring revenue growth despite never having made a profit in the last three years. Twitter had raced toward the biggest Silicon Valley IPO after Facebook Inc's 2012 debut.
Twitter is an eight year old microblogging service that served as a preferred communications tool for celebrities and politicians alike. The microblogging site gave potential investors a first glance at its financials last Thursday. This was after the social network platform filed its IPO documents, a report from Reuters said.
The company's revenue almost tripled to USD316.9 million last year and was driven largely by advertising. In the first half of 2013, the company posted revenue of USD253.6 million but had loses of USD69.3 million.
According to Reuter's calculations, Twitter managed average revenue per user in the second quarter of this year to USD.64. This was comparable to Facebook's 2013 average revenue of around USD1.60.
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