Twitter reveals it has filed for an IPO – in a tweet!

13 Sep 2013104 Views

Twitter has filed for its much-anticipated initial public offering (IPO). In a tweet, the microblogging service announced it submitted an S-1 to the US Securities and Exchanges Commission (SEC) for an IPO.

The tweet read: “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.”

Twitter is used by more than 200m people around the world and can be considered one of the pillars of the internet as we know it today.

Goldman Sachs is the lead underwriter in the planned sale of stock.

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The social network has achieved a valuation of US$9bn, based on sale of employee stock to BlackRock Inc.

Twitter IPO

In March, eMarketer raised its forecast for advertising spending on Twitter for 2013 and 2014, estimating the company will earn US$582.8m in global ad revenue in 2013 before nearing US$1bn next year.

According to the new forecast, more than half of Twitter’s ad revenues – about 53pc – will come from mobile advertising this year, up from virtually no ad revenue from mobile in 2011.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years

editorial@siliconrepublic.com