Twitter says it has over 200 million active users but has
yet to turn a profit
Twitter is to sell 70 million shares priced between
$17 and $20 (£10 - £12) when the company makes
its debut on the New York Stock Exchange.
This offering represents 13% of the microblogging site.
It values Twitter at as much as $11.1 billion (£6.8bn),
making it the biggest internet company to go public
since Facebook.
However, despite big user figures, the company has yet
to turn a profit.
Twitter currently has 200 million active users, who
send more than 500 million tweets a day.
The company is expected to post $583m in revenue in
2013, according to advertising consultancy eMarketer,
up from $288m in 2012.
The majority of Twitter's revenue comes from
advertising, with companies paying for "promoted
tweets".
Many analysts expect that it will make its market debut
in mid-November after it has completed a so-called
"shopping period" where it makes its pitch to potential
investors.
The company has said that its stock symbol will be
"TWTR".
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