With a Tweet, Twitter Announces Plans for IPO

Confidential Filing Gives Twitter Time to Get Financials In Line Outside Public Glare

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Twitter said it filed for an initial public offering with the U.S. Securities and Exchange Commission, in what would be the most highly anticipated offering since Facebook.

Twitter announced the filing in a tweet:

Goldman Sachs will be the lead underwriter for the IPO, according to a person familiar with the matter who asked not to be identified because the information isn't public.

Twitter was valued last month at about $10.5 billion by GSV Capital Corp., one of its investors, up 5 percent from a May estimate. Facebook, which raised $16 billion last year, has a market value of about $109 billion.

Jim Prosser, a spokesman for the San Francisco-based company, declined to comment beyond the post.

Companies with less than $1 billion in annual revenue are able to submit IPO filings confidentially with U.S. regulators under the Jumpstart Our Business Startups, or JOBS, Act.

-- Bloomberg News --

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