Twitter Files For Private Initial Public Offering (IPO)
Ryan Martin / 3 years ago
Twitter announced on Twitter that they’ve submitted the required paperwork to the U.S Securities and Exchange Commission (SEC) for a private Initial Public Offering (IPO).
“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.” Tweeted the official Twitter account.
The filing of a private or confidential IPO means that Twitter’s annual revenue has to be less than $1 billion despite the company being valued at around $10 billion. Twitter will have to disclose financial information to investors but is only required to do that three weeks before the public offering occurs. There are currently no details on the campaign that Twitter will be offering to investors.
Twitter’s IPO has been expected for quite some time but it was believed that the relative “flop” of Facebook’s IPO delayed it from launching its own.
Image courtesy of Twitter