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Twitter is Going Public, Files for Initial Public Offering

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Twitter announced today that it has filed an S-1 with the SEC, and is in the process of filing for an initial public offering.

The company made the announcement via a tweet:

Twitter is Going Public, Files for Initial Public Offering image Screen Shot 2013 09 12 at 2.50.48 PM

The company has yet to file an official registration with the Securities and Exchange Commission that starts the IPO process, but took advantage of the JOBS Act, which allows companies with less than $1 billion in annual revenue start the IPO process confidentially. There has been no price range determined for the stock, but tech blog TechCrunch expects the valuation of the company to be roughly between $15 billion and $20 billion.

Twitter’s IPO has been highly anticipated since Facebook’s initial offering and according to TechCrunch the NASDAQ may host this deal. The company has been well managed, but with hundred of millions of invested capital, investors are looking to get a return on their money. The announcement follows Facebook CEO Mark Zuckerberg’s statement at TC Disrupt that it should not be afraid of going public. The decision however, was not caused by this comment and is amidst 131 other companies who have filed for IPOs this year.

CNBC and Bloomberg News reported that Goldman Sachs would be the lead underwriter on the offering.

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