Twitter has just made its IPO filing available to the public, and it's.
The 140-character microblogging platform certainly isn't the first Internet company to go public with sky-high expectations. Facebook famously went public last year amid a circus-like atmosphere, only to debut to a rude awakening: technical problems on IPO day and investor concerns about monetizing the service. Since then, of course, the stock has rebounded, on the strength of its growing advertising business.
In that spirit, here are the top 10 Internet IPOs of all time, as ranked by Renaissance Capital, the public-offering research firm. If Twitter reaches its goal, it would fall at about sixth place on the list.
10. Orbitz Worldwide, July 2007, $510 million -- The travel site sold its stock at $15 per share, short of the $16 to $18 investors were expecting.
9. Groupon, November 2011, $700 million -- The daily-deals site went public in the largest offering by an Internet company since Google. The company increased its offering by 5 million shares to accommodate demand.
8. Renren, May 2011, $743 million -- The Chinese social network did exceptionally well in its public market debut, and was seen as a curtain-raiser for Facebook's offering, which would take place the next year.
7. Giant Interactive Group, October 2007, $887 million -- The Chinese online gaming company's debut was seen, in retrospect, as a worse fumble than Facebook's.
6. Zynga, December 2011, $1 billion -- The social gaming company, which was intimately tied to Facebook at the time, performed tepidly out the gate.
5. Shanda Games, September 2009, $1.04 billion -- The Chinese online gaming company had the biggest IPO of the year, but fell flat as well.
4. Infonet Services, December 1999, $1.07 billion -- A relic of the pre-bubble days, Infonet provided managed data communications services to well over 1,000 companies worldwide.
3. Yandex N.V., May 2011, $1.3 billion -- The Russian search engine was the biggest tech IPO of 2011, and shares popped on the first day.
2. Google, August 2004, $1.6 billion -- The search giant lowered its share price before going out, to quell concerns from skeptics.
1. Facebook, May 2012, $16 billion -- The biggest tech IPO of all time was infamously riddled with problems.