Microblogging site Twitter Inc (NYSE:TWTR) said in an SEC filing that it has raised its expected IPO range to $23-$25, mainly due to rising demand for its shares. The company debuts on the New York Stock Exchange on Thursday. The San Francisco-based company had previously expected a price range of $17-$20. Twitter Inc (NYSE:TWTR) plans to sell 70 million shares at the offering. At the high end of its expected range, Twitter Inc (NYSE:TWTR) may raise up to $1.75 billion at its IPO. One of Twitter Inc (NYSE:TWTR)’s largest shareholders, Saudi Prince Al-Waleed bin Talal is bullish on the stock. He decided not to sell his shares in the offering.

Twitter IPO

Twitter still undervalued?

The new price range values the company at around $13.62 billion. But analysts believe Twitter Inc (NYSE:TWTR) is still undervalued. Company executives have already started promoting the stock to potential investors. Twitter Inc (NYSE:TWTR) doesn’t generate profits yet, but its executives have highlighted growth in mobile, international markets, and TV integration in their pitches. Twitter Inc (NYSE:TWTR) also revealed in its filing that International Business Machines Corp. has accused the microblogging company of patent infringement.

The success of Twitter Inc (NYSE:TWTR)’s IPO will play a crucial role in how entrepreneurs and venture capitalists view other Internet IPOs. A Facebook Inc (NASDAQ:FB)-style debacle could disappoint venture capitalists and pull down start-up valuations. Internet investing has declined 14% in Q3 to $1.5 billion compared to $1.74 billion in the same period last year, according to Ari Levy of Bloomberg.

Investors are skeptical of Twitter: CNBC survey

A recent AP-CNBC poll shows that the broader public and potential investors are highly skeptical of investing in Twitter Inc (NYSE:TWTR) stock. More than 47% of Americans are skeptical of putting their hard-earned money into the 7-year old microblogging service. Only 36% said they would invest in the stock. Among people between 18 and 34, a whopping 52% said investing in Twitter Inc (NYSE:TWTR) is a bad idea. Before Facebook Inc.’s IPO in May 2012, 51% had favored investing in the Menlo Park-based company, while 31% disagreed.