Twitter IPO not happening any time soon – Dorsey

30 Apr 2013

Jack Dorsey, co-founder of Twitter. Image via Wikimedia Commons

It’s been nearly a year since Facebook’s IPO but another social networking giant isn’t going to follow suit any time soon. Twitter co-founder Jack Dorsey has said the company is “not even thinking about it” right now.

An initial public offering by Twitter could well be the largest for a consumer web company since Facebook, Bloomberg reported, and Dorsey’s view on IPOs is that they are “going to be different for every single company”.

There are also lessons to be learned from Facebook’s IPO and that of other tech giants, such as Yelp, Zynga and LinkedIn, Dorsey added.

“A lot of people think of this (an IPO) as a goal you have to get to but it’s a milestone,” Bloomberg quoted Dorsey as having said.

“If you think about it as a goal, you’re rushing towards it and then stop, and that’s not the way to build a timeless company.”

In January, financial research firm Greencrest reported that the microblogging service could be worth around US$11bn and is likely to go public in either late 2013 or early 2014.

Greencrest had arrived at the valuation after probing secondary markets where shares are sold privately.  

Facebook has lost about one-third of its value since its IPO on NASDAQ on 17 May 2012.

Tina Costanza was a journalist and sub-editor at Silicon Republic