Twitter files for IPO, said to value the company at $US14b
Twitter has announced - via what else, a tweet - that it has filed for an initial public offering.
The IPO filing is confidential, which means Twitter's revenue must be under $US1 billion.
There's no public information beyond the tweet from Twitter's official account, which says simply:
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 (@twitter) September 12, 2013
Nevertheless, Gigaom quotes insiders who claim Twitter's private equity shares are trading at a a level that values the company at $US22 billion.
The IPO announcement comes after a sharp recovery in the shares of Facebook. The social network's stock plummeted after an over-ambitious IPO, but have climbed recently as the mobile advertising market has bolstered the company's revenues. Today they hit a post IPO high, valuing Facebook at $US109 billion.