Why Financial Statements Don’t Work for Digital Companies
Harvard Business Review
FEBRUARY 26, 2018
Twitter reported a loss of $79 million before its IPO, yet it commanded a valuation of $24 billion on its IPO date in 2013. In a previous HBR article , we argued that, in contrast to physical assets that depreciate with use, intangible assets might enhance with use. For the next four years, it continued to report losses.
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