AfterDawn: Tech news

Twitter files for IPO, announces via tweet

Written by Andre Yoskowitz (Google+) @ 13 Sep 2013 19:50

Twitter files for IPO, announces via tweet With just a tweet last night, Twitter announced it was filing for an IPO, marking the highest-profile tech debut since Facebook.
In their tweet the company says, "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."

Filing for an S-1 means that Twitter has less than $1 billion in revenue, but growth remains outstanding at the microblogging site.

Twitter has been privately valued at over $10 billion, but could come to the market with an even bigger value given the service's extreme popularity.

Max Wolff of Greencrest Capital adds (via Reuters): "It's completely conquered mobile. It has an enormous social network. It's becoming a key utility as a second screen to TV and it's literally the first draft of history. Normally a company like Twitter would have been public for some time."

As of writing, Twitter has over 200 million active users and over 400 million posts per day. More importantly, the company has been at the forefront of breaking news, including Osama Bin Laden's death and Middle Eastern troubles.


Tags: IPO Twitter
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