Twitter To Borrow As Much As $1.5 Billion

Posted: Sep 11 2014, 1:10pm CDT | by , in News | Other Stuff

 
Twitter to Borrow as Much as $1.5 Billion
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Other tech companies, including Google and Netflix, have also borrowed money this year

In Twitter’s recent attempt to stock up on cash, it is offering $1.5 billion in convertible notes to private investors as reported by a document filed on Wednesday by the Securities and Exchange Commission. After its latest earnings announcement in August, the company had roughly $2 billion in the bank but after the move on Wednesday, this amount can come close to more than a double. We still haven’t received any information on what the money would be used for and the company spokesperson also declined to comment on it. But according to our assumptions, Twitter might use these funds to make another acquisition.

When it comes to money borrowing, Google and Netflix have also played their parts this year and it might be possible that Twitter simply wants to take debt hoping that it would build its war chest while the interest rates are low. Ever since Twitter went public in 2013 it hasn’t been profitable and last quarter its financial results were quite disappointing; it announced a net loss of $145 million. Though the company’s sales are increasing at a tremendous rate, the losses are more than tripling as compared to the same period last year.

source: recode

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<a href="/latest_stories/all/all/32" rel="author">Ahmed Humayun</a>
Ahmed Humayun is a technology journalist bringing you the hottest tech stories of the day.

 

 

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