Twitter Files For IPO
How do you tell the world world that you’re planning to go public? If you’re Twitter, you tweet it — and that’s Twitter did today.
The tweet was sparse on the details, saying that Twitter “confidentially” submitted an S-1 filing to the US Securities & Exchange Commission to go public:
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
The “confidential” part is apparently in reference to new rules that allow companies with less than $1 billion in revenue to go public yet delay the release of their financial documents until three weeks before the traditional “road show” of shopping the company to prospective investors and bankers, The Verge notes.
Bloomberg News has tweeted that Goldman Sachs will be the lead underwriter in the offering.
We’ll update more when we hear it, including when the actual documents surface, as they will eventually. They should provide revealing insights into Twitter’s business. You can also watch for breaking developments here on Techmeme.