Menu
Twitter increases top end of IPO price to $25 a share

Twitter increases top end of IPO price to $25 a share

The compnay also reveals that IBM has said that Twitter infringes several patents

Twitter on Monday increased the price of shares in its initial public offering to a range of US$23 to $25 per share and also revealed that IBM has claimed the company has infringed on several patents.

Twitter plans to issue 70 million shares, according to a document filed with the U.S. Securities and Exchange Commission (SEC), which would mean that Twitter could raise $1.75 billion if it sells its shares for the maximum $25 amount. Twitter previously estimated it would sell its shares for between $17 and $20.

Twitter on Monday also updated the risk factors disclosed to the SEC, expanding the intellectual property right threats the company faces, specifically highlighting a claim by IBM.

"From time to time we receive claims from third parties which allege that we have infringed upon their intellectual property rights. In this regard, we recently received a letter from International Business Machines Corporation, or IBM, alleging that we infringe on at least three U.S. patents held by IBM," said Twitter in the filing, adding that IBM has invited Twitter to negotiate a business resolution.

According to IBM, Twitter infringes on a patent that describes a method of providing links to remotely located information in a network of connected computers, as well as a patent that provides a method for presenting advertising in an interactive service. The third patent describes the programmatic discovery of common contacts, according to the filing.

"Based upon our preliminary review of these patents, we believe we have meritorious defenses to IBM's allegations, although there can be no assurance that we will be successful in defending against these allegations or reaching a business resolution that is satisfactory to us," Twitter said.

Twitter is currently involved in a number of intellectual property lawsuits, it said. In addition, because the company faces increasing competition and is gaining an increasingly high profile, it said it expects the number of patent and other intellectual property claims against it to grow.

Loek is Amsterdam Correspondent and covers online privacy, intellectual property, open-source and online payment issues for the IDG News Service. Follow him on Twitter at @loekessers or email tips and comments to loek_essers@idg.com


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuestwitterIBMSEC Filings

Featured

Slideshows

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Meet the winners of the 2020 Reseller News Innovation Awards

Meet the winners of the 2020 Reseller News Innovation Awards

Reseller News honoured the standout players of the New Zealand channel in front of more than 500 technology leaders in Auckland on 21 October, recognising the achievements of top partners, start-ups, vendors, distributors and individuals.

Meet the winners of the 2020 Reseller News Innovation Awards
Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Show Comments