Twitter has this morning confirmed plans for a stock offering, tweeting that it has submitted papers.
Today’s announcement comes after months of initial public offering (IPO) rumours surrounding Twitter.
The tweet (pictured below) said: “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)”
Twitter will benefit from US legislation that lets companies which garnered less than $US1bn in revenue in its previous fiscal year keep its IPO documents private. The legislation will help Twitter avoid the fuss that surrounding Facebook’s IPO last year.
Twitter recently announced the acquisition of mobile advertising exchange MoPub, which will see it integrate real-time buying into its advertising platform.
The news has been welcomed by media buyers and social experts, however one warned that the social networking giants need to stop fighting each other and find a common currency to avoid becoming unworkable.