Popular micro-blogging site Twitter announced on September 12, 2013 that it has submitted papers for the most-anticipated stock offering in the tech sector since Facebook?s offering in 2012. The company tweeted the big announcement.
The tweet said, ?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?. Just a few moments later, the micro-blogging site tweeted a picture of its staff members and said, ?Now, back to work.?
Rumors about an initial public offering have been circulating for some time and media reports mentioned that the company is worth around $10 billion. Lou Kerner from the Social Internet Fund said that he is expecting a big reaction from investors. Kerner in an email wrote, ?Given Twitter?s significant growth, and the market?s love affair with social media, the Twitter IPO is posed to be a home run?.
The online social networking site has become one of the fastest-growing and most influential social media services, which is used widely by celebrities, politicians, journalists and others. Earlier, Twitter stated that it has more than 200 million active users, but some analysts have said that the figure is much higher.
Photo Credits: First Post