Twitter announces plans to float on the stock market
Everyone's favourite micro-blogging site has announced plans to head on to the stock market
Twitter last night announced that they plan to float on the stock market with an initial public offering (IPO).
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) September 12, 2013
They would seem to be following in the steps of Facebook, which had been rumoured after Mark Zuckerberg & Co decided to do the same last year, and while the consensus is that Twitter's first offering will be significantly smaller, one of their main investors valued the company at about $10.5 billion recently.
Many major companies use Twitter as a valuable tool for social engagement, and there isn't expected to be any lack of interest from potential investors should the company continue with the process of going public.