Social media giant, Twitter, has decided to raise its price of stock by 25%. After canvassing professional investors for a week on how much they would be willing to pay for its shares, Twitter has increased its IPO from around $17 up to $23-$25.
Twitter, which plans to list its shares for the first time on the New York Stock Exchange on Wednesday, can now claim a market value of $13.6bn before its shares have even started trading. The company could raise as much as $1.4bn in the offering.
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Twitter is not seen as a decent investment by nearly 50% of active investors, according to a new CNBC-AP poll out Monday.
Twitter revealed on Monday, for instance, that tech giant IBM has claimed that Twitter has violated three of its patents.
Twitter gained 85% of its revenue from advertising in 2012, and an even higher percentage – 89% – in the first nine months of this year.
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