Twitter plans to raise up to $1.4bn in IPO

Twitter is to sell 70 million shares priced between $17 and $20 (£10 - £12) when the company makes its debut on the New York Stock Exchange.

This offering represents 13% of the microblogging site.
It values Twitter at as much as $11.1 billion (£6.8bn), making it the biggest internet company to go public since Facebook.

However, despite big user figures, the company has yet to turn a profit.
Twitter currently has 200 million active users, who send more than 500 million tweets a day.
The company is expected to post $583m in revenue in 2013, according to advertising consultancy eMarketer, up from $288m in 2012.
The majority of Twitter's revenue comes from advertising, with companies paying for "promoted tweets".
Many analysts expect that it will make its market debut in mid-November after it has completed a so-called "shopping period" where it makes its pitch to potential investors.
The company has said that its stock symbol will be "TWTR".

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