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Twitter is going public, files for IPO

Twitter announced via a tweet that it has confidentially submitted a request to the SEC for going public.

Twitter

The microblogging service will be the biggest tech IPO this year, and the biggest since Facebook went public last May for $16 billion. There has been no definite valuation of Twitter, as analysts have put its value in the ballpark of $10 to $15 billion.

Twitter was able to confidentially file for the IPO as its annual revenue is less than $1 billion. According to eMarketer, Twitter’s ad revenue for 2013 will be somewhere around $600 million.

The Wall Street Journal mentions that Goldman Sachs will serve as the lead underwriter for the deal, and that other banks will be assisting Goldman Sachs in conducting the high-profile IPO.

Source: Twitter

Harish Jonnalagadda
http://harishjonnalagadda.com
Harish Jonnalagadda is an avid reader of science-fiction novels. A long-time Arsenal fan, his other interests include gaming, basketball and making music. He also likes tinkering with hardware in his free time.

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