140 characters at a time - Twitter has become what will likely be the largest Silicon Valley IPO since Facebook. Even though Twitter lost money the last three years, revenue tripled last year. And many analysts say Twitter's losses are a non-issue because they have been attracting so much advertising. Twitter may be only eight years old but this deal, which aims to raise a billion dollars, could make the company worth about $15 billion and is going to make a lot of people very wealthy. Top shareholders include Co-founder Evan Williams - he is the biggest shareholder at 12 percent. Benchmark Capital has a 6.7 percent stake. Co-Founder Jack Dorsey has close to 5 percent. Current CEO Dick Costolo has about one and a half percent. And this guy, Hollywood investor Suhail Rizvi, head of under the radar Rizvi Traverse. Notice, there is no picture there. He's a little secretive. He actually pays someone to scrub his picture from the internet. But Reuters found out he has spent more than a billion dollars to build a 15 percent stake in Twitter over the last two years. We did ask him for comment but, of course, shockingly, he declined. As for the IPO, if all goes well Twitter could begin trading in November. Ticker TWTR. Which exchange? That is TBA - as in still to be announced.
IPO is an abbreviation for initial public offering, a stock market launch where shares of stock in a company are sold to the general public, on a securities exchange, for the first time. • Google's IPO was launched when web stocks were out of favour.