Twitter files for $1billion IPO – docs show rapid growth, steep losses

Twitter has filed for its long-awaited initial public offering, revealing a fast-growing company but one that lost money in each of the past three years.

Twitter generated $317 million in revenue last year, almost three times what it made in 2011, according to its IPO documents filed Thursday. Its loss last year was roughly $79 million, but that was smaller than its loss of $128 million in 2011.