Twitter Chooses NYSE as Sales and Losses Rise

Twitter Chooses NYSE, Shows Increased Losses:

Rather than join the tech-heavy Nasdaq, Twitter has elected to join the NYSE for its IPO. Twitter released an updated S-1 yesterday that showed the social networking site lost even more money in the 3rd quarter of 2013. While sales doubled to $168.6M (70% of which was from mobile ad revenue), it lost $64.6M, which is up from a loss of $21.6M a year earlier. The added losses are a result of increased R&D spending.