Twitter just announced the details of its IPO, indicating that the company could raise as much as $1.4 billion from the sale of 70 million shares, at $17 to $20 each. That would make it the biggest Internet IPO since Facebook. Based on the individual share prices, the IPO would value the company at about $10 billion total. 

Twitter will now shop around its IPO to investors, where the Wall Street Journal explains that company could face a number of questions: 

In a "roadshow" where the company pitches its shares, the San Francisco-based company could face tough questions from investors about whether its 140-character microblogging service can continue to grow its user base and eventually turn profits from the advertising it sells. Twitter has grown to more than 250 million monthly active users since the first tweet was sent in 2006, by co-founder Jack Dorsey.

The pricing date is now set for November 6th. 

The IPO would make Twitter larger than, say, AOL, the New York Times explains, but much smaller than Facebook's $127 billion valuation. Twitter co-founder Evan Williams has a 12 percent stake in the company, meaning the entrepreneur is now worth over $1 billion