Twitter IPO: Company Hopes To Raise $1bn

Twitter has unsealed the documents for its initial public offering of stock, saying it hopes to raise up to $1bn.

The company has also disclosed it generated $317m (£196m) in revenue in 2012, and that it has more than 215 million active users.

Twitter revealed last month that it had filed confidential IPO papers to start the process of going public.

On Thursday, the San Francisco-based social network unsealed the papers with the Securities and Exchange Commission.

Twitter did not say which stock exchange it plans to list its shares on, however the company said it intends to use the ticker symbol "TWTR".

The underwriters of the offering are Goldman Sachs, Morgan Stanley, JP Morgan, BofA Merrill Lynch, Deutsche Bank Securities and CODE Advisors.

Twitter's IPO has been long expected. The company has been ramping up its advertising products and working to boost ad revenue in preparation.

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