Twitter Prices Its Initial Offering at $26 Per Share - NYTimes.com

Also see Twitter’s Market Valuation Suggests Wall St. Sees Huge Growth Potential (NYT), which notes "All this is impressive for a company that has racked up more than $300 million of losses in the last three years — and may not show real profits until 2015."

"On Wednesday, Twitter set the price of its initial public offering at $26 a share, valuing the company at $18.1 billion. Twitter shares are set to begin trading on Thursday on the New York Stock Exchange.
With 70 million shares sold in the offering, Twitter raised $1.8 billion. The I.P.O.’s price, the subject of debate between the board and its underwriters until late on Wednesday afternoon, was above an already heightened price range, reflecting the strong demand for the company’s stock."

Twitter Prices Its Initial Offering at $26 Per Share - NYTimes.com