Twitter said this will be a “confidential” filing, or what some have called a “Secret” IPO. When The President Obama signed the Jobs Act into law, companies with less than $1 billion in revenue gained the ability to go and visit all the public without releasing the financial documents that normally accompany this move. So that we probably won’t get a deeper peek into Twitter’s business right away, we can also deduce that their revenue is shy of the $q billion mark. Eventually, Twitter still have to release its financials- but not until they start marketing the public offering three weeks before in what is known as a road show. To make the IPO process easier for small companies they intended the new legal framework from the Jobs Act. Twitter reportedly had $350 million in revenue last year, so even if it comes in below a billion this year, its growth and progress may be more impressive. Bloomberg News is reporting that Goldman Sachs will be the underwriter for the public offering, and that the stock will be traded on the New York Stock Exchange.
It was announced that, comes as a surprise. The San Francisco- based social networking company has been the most and more buzzed-about IPO candidate for years, and a few recent moves signalled that the time was likely high.The MO Pub acquisition makes a particular sense given the experience of another social network whose own IPO didn’t go exactly as were planned. Facebook’s stock price spent serious time in the Doldrums in part due to concern about its ability to make mobile ads pay.
After months of speculation, Twitter has finally set its initial public offering in motion.