convert chain of characters to short number javascript code example

Example: How to abreviate digits in js

function abbreviateNumber(value) {
    var newValue = value;
    if (value >= 1000) {
        var suffixes = ["", "k", "m", "b","t"];
        var suffixNum = Math.floor( (""+value).length/3 );
        var shortValue = '';
        for (var precision = 2; precision >= 1; precision--) {
            shortValue = parseFloat( (suffixNum != 0 ? (value / Math.pow(1000,suffixNum) ) : value).toPrecision(precision));
            var dotLessShortValue = (shortValue + '').replace(/[^a-zA-Z 0-9]+/g,'');
            if (dotLessShortValue.length <= 2) { break; }
        }
        if (shortValue % 1 != 0)  shortValue = shortValue.toFixed(1);
        newValue = shortValue+suffixes[suffixNum];
    }
    return newValue;
}