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The initial public offering (IPO) of social media company Twitter is to take place on the New York stock exchange (NYSE), in news that is likely to prove disappointing to rival listings exchange Nasdaq.
It is possible Nasdaq's botched debut of Facebook last year could have played a part in Twitter's decision, reports the Financial Times.
The move will make Twitter the largest consumer internet IPO to take place on NYSE, which has steadily grown its share of technology listings and is attempting to challenge Nasdaq when it comes to attracting business from start-ups.
NYSE said in a statement: "This is a decisive win for the NYSE. We are grateful for Twitter's confidence in our platform and look forward to partnering with them."
In an updated filing, the high-flying technology firm also provided new figures for the first nine months of the trading year.
Its total revenues have increased by 106 per cent from the same time last year, moving up to $422.2 million, highlighting the vertiginous rise the firm has enjoyed since its launch.
However, concerns remain over how the company's model can be effectively monetised, with net losses increasing to $133.8 million from $70.7 million a year earlier.
Rich Repetto, exchange analyst at Sandler O’Neill, told the newspaper: "This event is more about branding than revenue, since that is minimal. But this is a high-profile technology name."
The number of monthly users remains healthy - this jumped from 218 million in June to 232 million in September, for an impressive rise of 39 per cent year-on-year.
Twitter is now generating more cash than ever from mobile devices, highlighting the increased importance of m-commerce and mobile advertising, with some 76 per cent of the platform's users accessing it from a smartphone or tablet each months.
In employment terms, the company also performed well, with an 87 per cent rise in the number of staff working there to bring the total up to 2,300 full-time employees.