NEW YORK (TheStreet) - Twitter has made its plans to go public official, Facebook (FB - Get Report) announced its advertising strategy for Instagram, while LinkedIn (LNKD - Get Report) had its price target raised.
Twitter has filed its S-1 with the Securities and Exchange Commission. The social networking site could raise $1 billion, though that figure is subject to change. It will trade under the ticker "TWTR," the exchange was not mentioned in the filing.
In the first six months of 2013, Twitter reported $253.6 million in revenue, showing a net loss of $69.5 million. Revenue for all of 2012 totaled $316.9 million.
A possible concern, however, is that average cost per ad engagement decreased steadily since 2012, falling 46% in the second quarter ended June 30 over the year-ago quarter. Advertising accounted for 87%, or $221.4 million, of total revenue in the first-half 2013.The site has more than 218 million users and hosts 500 million tweets a day. Investors have a minimum of three weeks to review the documents, meaning Twitter could go public as early as Thanksgiving.