The buzz on the Twitter (NYSE:TWTR) IPO has been nowhere near the levels of other high-profile deals like Google (GOOG) and Facebook (FB). But it looks like institutional investors are eager to get shares anyway. According to the latest S-1, Twitter has boosted the price range to $23 – $25, up from $17 – $20.
Assuming the offering prices at $25, Twitter will have a valuation of $17.3 billion. While this seems high for a company that has never generated a profit, it is actually still at a discount — on a revenue-multiple basis — to other social stocks like Facebook, LinkedIn (LNKD) and Yelp (YELP).
Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.