Micro blogging site, Twitter has announced its decision to get listed on the New York Stock Exchange instead of on Nasdaq giving a major boost to the stock exchange.

Rival Nasdaq had landed the social networking giant, Facebook but the issue was affected by a software malfunction. Pandora Media Inc., LinkedIn Corp. and Yelp were among the internet companies that chose NYSE since 2011. On the other hand, Nasdaq attracted Facebook initial public offering in 2012.

Twitter has reportedly chosen TWTR as its ticker symbol for the shares. The company revealed more details of the IPO after confidentially filing for the issue with the authorities. The social blogging network with more than 200 million members worldwide has said that it has filed S-1 to the Securities and Exchanges Commission for its planned initial public offering. Twitter is expected to be valued at up to $20 billion after its shares starts trading.

According to a report, the exchange had offered millions of dollars in marketing promotion to the company ahead of its IPO. Twitter said that its revenues more than doubled to $254 million in the first six months of this year but its net loss grew by 40 per cent to $69 million as the company recorded a rise in expenses.