Twitter wants to raise $1bn in its stock market debut

Social networking company Twitter has said it plans to raise $1bn (£619m) in its stock market debut in documents filed with US regulators.
In the filing,revealed on Thursday, the seven-year-old company said that it now has 218 million monthly users and that 500 million tweets are sent a day.It made a loss of $69m in the first six months of 2013,on revenues of $254m.It will be the largest Silicon Valley stock offering since Facebook's listing in 2012.Analysts said that the offering was likely to get a good response."Social media is red hot"said Internet analyst Lou Kerner."Twitter is front and centre benefiting from market enthusiasm for all things social,and remarkably strong metrics."