Details of Twitter's registration document ahead of its initial public offering on the stock market have been revealed.
The social media company has told regulators in the US it expects to raise around $1 billion (£619 million) when it floats its shares on the stock market.
For the first time, the finances behind the firm have also been unveiled.
Twitter's revenues jumped from $28 million in 2010 to $317 million in 2012 – with 85 per cent of its income coming from advertising and the remaining 15 per cent from the licensing of its data.
Despite the astounding increase, the company has never made profit – and actually posted a $65 million loss between January and June this year.
The business also said in the document that 500 million tweets are sent every day, from a monthly user base of 218 million.
It is rumoured Twitter will be valued at between $12 billion and $15 billion.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.