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 announced Thursday that it's going public, fittingly revealing the long-expected news via tweet, saying it had filed confidential documents for an initial public offering of stock.
— Twitter (@twitter) September 12, 2013
Twitter filed sealed documents for the IPO, taking advantage
of federal legislation passed last year that lets companies with less than $1
billion in revenue do so.
That will likely help Twitter avoid the media hype that
surrounded the IPOs of other big-name social networking companies, including
Facebook, which went public last year.
Research firm eMarketer as estimating that Twitter will make
$582.8 million in ad revenue this year, up from $288.3 million in 2012.
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