Twitter's top executives are expected to meet with prospective investors in Boston Thursday as part of a multi-city roadshow to promote what could end up being one of the largest Wall Street initial public offerings in history.
San Francisco-based Twitter, which is expected to start trading on Nov. 7 under the ticker symbol "TWTR," plans to sell 70 million shares at $17 to $20 each to raise as much as $1.4 billion, according to a regulatory filing. If all the shares are sold, the underwriters will have the option to buy another 10.5 million shares.
Twitter's conservative valuation and its decision to trade on the New York Stock Exchange are both attempts to avoid a repeat of Facebook's May 2012 IPO, which set expectations too high and was marred by technical glitches for which the Nasdaq was later fined.
"They don't want to make the same mistakes Facebook did," said Todd Van Hoosear, vice president of public relations and stakeholder engagement at HB Agency in Newton.
Max Wolff, chief economist and strategist for ZT Wealth in New York, said he wants to know Twitter's time frame to break even. Last week, the seven-year-old company disclosed that it lost $65 million in the third quarter, three times as much as in the same period a year earlier. It was Twitter's biggest quarterly loss since 2010.
The company, headed by CEO Dick Costolo, also needs to demonstrate how it's going to monetize its international users, Wolff said. Right now, 75 percent of its revenue comes from this country, but 75 percent of its users live outside the United States.
In addition, Twitter needs a "discovery plan" that will make it as easy to find people to follow as it is on Facebook and Google, he said.
"In order to be the true powerhouse Twitter could and should be, it needs to solve that problem," Wolff said.
The company also needs a plan to monetize Vine, the popular mobile service it bought earlier this year that lets users capture and share short, looping videos, he said, and Twitter needs a self-serve ad platform to attract small and regional advertisers.
"There's a huge opportunity for Twitter as a second screen for television, especially for events like premieres, the Grammys and the Super Bowl, when everyone's tweeting," said David Gerzof Richard, Emerson College professor of social media and marketing.
Herald wire services contributed to this report.
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