Twitter has announced, via Twitter, that the company plans to go public.Twitter has filed for its IPO (initial public offering) with the SEC (the U.S. Securities and Exchange Commission) but the details of that filing are confidential for the moment.
The secrecy seems to be possible thanks to Twitter’s revenue. The Verge reports that companies with revenues of less than $1 billion are able to file for an IPO without immediately releasing the documentation that usually accompanies such a move. Twitter is, at the moment, valued at over $10 billion but its debut on the New York Stock Exchange should give us all a better idea of what its actual value is.
Following Facebook’s less-than-impressive entry into the stock market, Twitter will likely be watched with a keen eye. Facebook’s initial performance in that sphere may even make potential investors a little more wary of the company than they might normally be. Either way, soon Twitter’s users will have a shot at owning a piece of the technology that they use every day.
We’ve confidentially submitted an S-1 to the SEC for a planned IPO. This Tweet does not constitute an offer of any securities for sale.
— Twitter (@twitter) September 12, 2013