Twitter tweets it is going public, files S-1 with SEC
After a lot of speculation doing rounds for a couple of months, Twitter has finally announced it is going public. Through its own platform, Twitter decided to break in the news that it has filed S-1 with Securities and Exchange Commission. The company also mentioned in the tweet that they have submitted the papers ‘confidentially’ with the commission using a provision under the 2012 JOBS Act that lets companies with under $1 billion in annual revenue file its initial documents without being scrutinized publically.
Till date, Twitter has managed to raise $1.6 billion in capital through the route of VCs. Analysts predict the current valuation of the company to be around $15 billion to $20 billion. It employees close to 2000 people and has close to 200 million active users. The initials interest of going public was thwarted after the Facebook shares performed miserably in the first month post its IPO. But the US markets are doing very well now and Facebook shares are at an all time high which makes it the right time for an IPO. It should roughly take 3 months for twitter to go public.
[Via – Techcrunch]