Twitter files for IPO
Twitter on Thursday announced that it has filed documents with the Securities and Exchange Commission for an Initial Public Offering, or IPO. “We’ve confidentially submitted an S-1 to the SEC for a planned IPO,” Twitter said in a post on its popular social networking site. “This Tweet does not constitute an offer of any securities for sale.” Twitter is able to file its S-1 confidentially because its annual revenue is less than $1 billion, and the document will remain confidential until three weeks prior to the offering as a result.
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According to Bloomberg, Goldman Sachs will be the lead underwriter on Twitter’s IPO.
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At last count, Twitter had approximately 200 million monthly active users. Twitter will become the latest social networking giant to take its company public; Facebook last year went public with the biggest Internet IPO in history, raising $105 billion.
This article was originally published on BGR.com
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