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INTERNET SPACE
Twitter IPO looks imminent, at higher price
by Staff Writers
New York City (AFP) Nov 06, 2013


Teens fret over online privacy, theft: US study
Washington (AFP) Nov 06, 2013 - American teenagers are growing increasingly worried about online privacy and the possibility of identity theft, a study released Wednesday showed.

The report by the Family Online Safety Institute found that 76 percent of teens are concerned about online privacy, with 43 percent saying they are "very concerned." This is up from 35 percent who were very concerned in a survey a year ago.

The proportion of teens who say they are very concerned about someone stealing their identity and using information they post online has risen to 51 percent from 43 percent a year earlier, the survey found, with girls more worried than boys.

"This new report reveals teens' concerns about identity theft as well as the steps they are taking to protect their personal information online," said Stephen Balkam, chief executive of the institute.

"These findings will help us increase awareness and educate both teens and parents," he said.

The report noted that children and teens are particularly susceptible to identity theft because they often have credit histories that may not be monitored for long periods of time.

The survey found 69 percent of teens said that they have set up one of their devices to auto-lock, which requires a password, and 56 percent use a variety of passwords for their online accounts.

Some 64 percent of teens in the survey said they owned or had access to a smartphone, up from 43 percent last year and 92 percent said they had some type of mobile phone. Two-third had access to a tablet, up from 45 percent a year ago.

The report, conducted by Hart Research Associates, is based on focus groups and a nationwide online survey conducted in October among 558 teens ages 13 to 17 who access the Internet.

Twitter was on the verge of revealing the price of its stock offering Wednesday, giving the popular messaging platform a value of around $15 billion, media reports said.

The Wall Street Journal and CNBC, citing unnamed sources, said the initial public offering was likely to be at $27 a share, higher than the just-increased range of $23 to $25.

CNBC said three people familiar with the IPO indicated the underwriters had set the $27 price. The Journal said that is the most likely price, but that a range of $25 to 28 was still being debated.

Twitter plans to sell 70 million shares, with a possible over-allotment of 10.5 million. With that option, it would raise more than $2.17 billion, or $1.89 billion without the extra shares.

With the over-allotment it would be the second-biggest tech IPO after Facebook's $16 billion effort last year and ahead of Google's 2004 offer, which raised $1.92 billion, according to research firm Dealogic.

Shares will trade under the symbol TWTR on the New York Stock Exchange.

Analysts said Twitter's first price range at $17 to $20 a share appeared conservative and that the price was likely to rise because of heavy demand.

Still, Twitter is taking a cautious approach in its IPO, in contrast to Facebook, which flooded the market with shares and saw a sharp decline in the following months.

Twitter still must convince investors of its business model, having lost more than $440 million since 2010.

But with 232 million users and growing, it is expected to be able to reach profitability by delivering ads in the form of promoted tweets, and from its data analytics.

The research firm eMarketer estimates Twitter will bring in $582.8 million in global ad revenue this year, and nearly $1 billion in 2014.

Twitter's IPO is the most keenly anticipated since Facebook's last year, with enthusiasm for the messaging service which has become engrained in popular culture and has become a tool for celebrities, journalists and politicians, among others,

According to IPO documents, Twitter has around 232 million monthly active users, three-fourths of whom are outside the United States.

Twitter says roughly 500 million tweets are sent every day, and that 76 percent of active users are on mobile devices such as smartphones or tablets.

Twitter must still convince investors of its business model, having lost more than $440 million since 2010.

Research firm eMarketer estimates Twitter will bring in $582.8 million in global ad revenue this year, and nearly $1 billion in 2014.

A research note from Topeka Capital Markets recommended the stock, with a target price of $54.

"A look back shows that consensus has underestimated social media financial performance," analyst Victor Anthony said in the note.

"Hence, we stand by our numbers, which are largely above official and unofficial estimates."

Other analysts are skeptical, saying Twitter's business model is unproven and that social media trends are too unpredictable to assume the service will continue to grow.

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INTERNET SPACE
Twitter hikes IPO share price range
New York City (AFP) Nov 04, 2013
Twitter boosted its public stock offering to as much as $2 billion Monday, suggesting strong demand for its shares and a higher overall value for the one-to-many messaging platform. The regulatory filing raises the share price for the popular messaging platform to a range of $23 to $25 from an earlier estimate of $17 to $20. The new share price range would give Twitter a market value bet ... read more


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