Twitter has set an initial pricing range for its IPO shares. Shares will be priced between $17 and $20.
The social media company submitted their regulatory filing with the SEC on Thursday, with a plan to initially offer 70 million shares. Earlier, the profit-absent company announced an offering on the New York Stock Exchange, with all the signs of another, soggy online offering ahead.
Meanwhile, the plan to generate profits remains shaky. Twitter is relying heavily on TV to generate revenue, with more sophisticated branding and advertising another pursuit. Forays into music have also been spotty: just recently, word leaked that Twitter #Music was shutting down after a period of months – and, after a massively-expensive acquisition and lots of burned resources.