Report: Twitter raises $1.82 billion in IPO

San Francisco – Twitter began trading shares on the New York Stock Exchange (NYSE) on Nov. 7 after reportedly raising $1.82 billion in its IPO. According to Bloomberg, Twitter sold 70 million shares at $26 each in its IPO, giving it a $14.2 billion market capitalization that is 12.4 times estimated 2014 sales of $1.14 billion.

Twitter will trade on NYSE under the TWTR symbol. The company’s revenue reached $534.5 million in the 12 months that ended Sept. 30, 2013.

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