It has long been speculated, but Twitter has officially filed for their IPO, ending months of rumors.
Ever since Facebook went public, many people believed Twitter would be the next major online technology company to file for an IPO. Today they announced their intention, unsurprisingly, via their online Twitter feed: "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."
The terms of the IPO are confidential, as new regulations from the JOBS Act allow small businesses, such as Twitter, keep their financial information from the public.
The Verge reported that Twitter is the first well-known web company to file for a "secret" IPO. It also means that Twitter is confirming it has less than $1 billion in revenue by filing for a secret IPO. They will still have to release their financial information, however the company won't have to do so until the road show part of their public offering.
Bloomberg is reporting that the lead underwriter is Goldman Sachs Group and will be traded on the New York Stock Exchange.
In keeping with the Twitter vibe, immediately after Twitter officially announced it on their @Twitter feed, they posted an image of their employees working in the office with a simple "Now, back to work."
Ever since Facebook went public, many people believed Twitter would be the next major online technology company to file for an IPO. Today they announced their intention, unsurprisingly, via their online Twitter feed: "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."
The terms of the IPO are confidential, as new regulations from the JOBS Act allow small businesses, such as Twitter, keep their financial information from the public.
The Verge reported that Twitter is the first well-known web company to file for a "secret" IPO. It also means that Twitter is confirming it has less than $1 billion in revenue by filing for a secret IPO. They will still have to release their financial information, however the company won't have to do so until the road show part of their public offering.
Bloomberg is reporting that the lead underwriter is Goldman Sachs Group and will be traded on the New York Stock Exchange.
In keeping with the Twitter vibe, immediately after Twitter officially announced it on their @Twitter feed, they posted an image of their employees working in the office with a simple "Now, back to work."
Original Article Post by Jennifer Slegg @ Search Engine Watch
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