Twitter announces confidential IPO

Twitter announces confidential IPO
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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.

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