Twitter unveils IPO filing, aims to raise $1.25 billion

Men are silhouetted against a video screen with a Twitter logo as they pose with Samsung S3 and S4 smartphones in this photo illustration taken in the central Bosnian town of Zenica on Aug 14, 2013. Twitter Inc will seek to raise US$1 billion (S$1.25
Men are silhouetted against a video screen with a Twitter logo as they pose with Samsung S3 and S4 smartphones in this photo illustration taken in the central Bosnian town of Zenica on Aug 14, 2013. Twitter Inc will seek to raise US$1 billion (S$1.25 billion) in the largest Silicon Valley initial public offering since Facebook Inc's 2012 coming-out party, according to an IPO filing made public on Thursday. -- PHOTO : REUTERS

SAN FRANCISCO (REUTERS) - Twitter Inc will seek to raise US$1 billion (S$1.25 billion) in the largest Silicon Valley initial public offering since Facebook Inc's 2012 coming-out party, according to an IPO filing made public on Thursday.

The eight-year-old service, the preferred communications tool for celebrities and politicians alike, gave potential investors their first glance at its financials.

Revenue almost tripled to US$316.9 million in 2012, from US$106.3 million in 2011. It said about 65 per cent of its revenue derives from mobile users. But the company has not made a penny in profits since 2010.

The service had 218.3 million monthly active users, on average, in the three months ended June 30. Three-quarters of its monthly active users are considered mobile users, it said in the filing.

Twitter intends to list common stock under the symbol "TWTR."