Social Media

Twitter Making IPO Filing Public This Week: Quartz

Microblogging site Twitter is slated to make its initial public offering (IPO) public this week, as reported Sunday by news website Quartz, quoting a source familiar with Twitter’s plans.

The site, which allows users to post and receive “tweets” – written messages 140 characters or less – is said to be valued at up to $15 billion with a revenue of about $500 million per year that is predicted to double in 2014.

According to reports, the company could be trading as early as October or November – although the company filed confidentially Sept. 12 and hasn’t provided a timeline. According to Tech Spot, however, Twitter is rumored to want its stock trading before Thanksgiving on Nov. 28.

Quartz reported the company plans to trade in the New York Stock Exchange as opposed to Nasdaq for its IPO.

A number of factors could derail Twitter’s plan, however, reports Reuters, including changes to the prospectus, market conditions, or the threatened shut down of the U.S. government.

While the company dodged filing for an IPO for a long time, it was eventually forced by the Jobs Act because it had more than 2,000 private investors, reports Tech Crunch.

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Megan Abraham

Megan Abraham is a staff writer for SiteProNews.

2 Comments

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  • It seems to be following in the footsteps of social media such as facebook which has been done at the beginning of this year

  • Look for TW to take some market share from FB. I think TW IPO launch will be flawless, unlike FB;s.