WASHINGTON — Twitter saw its initial public offering (IPO) increase and will now close its books a day earlier than expected. Now Twitter will have its IPO and share price set Wednesday.
Reuters reported that the social network raised its price range to $25 per share up from $23, yet kept its offering size at 70 million shares. It could even raise up to $2 billion if there is more demand for Twitter shares.
Still, the social media network has not made a profit since it relies heavily on advertising revenue. Many investors still remain skeptical of their profit model. But, it has over 230 million users the past seven years and half of its adults users consume the news on the platform.
But, there are problems such as inactive or deleted accounts, which could be as high as 1/3 of all Twitter accounts.