Tuesday, 27 June, 2017

Twitter IPO pegs valuation at modest $11 billion

Dick Costolo, Twitter's Chief Executive, arrives at Morgan Stanley as part of the Twitter Roadshow in advance of the firm's IPO, in New YorkBy Alexei Oreskovic and Gerry Shih SAN FRANCISCO (Reuters) – Seeking to avoid a repeat of Facebook Inc's much-maligned public debut, Twitter Inc revealed more modest ambitions, saying its initial offering would raise up to $1.6 billion and value the company at up to about $11 billion. The valuation was more conservative than the $15 billion some analysts had expected for the social media phenomenon, potentially attracting investors who might consider the money-losing company's listing price a better deal, with room to rise. …

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