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
Twitter which was founded by Evan Williams, Biz Stone based on the idea by Jack Dorsey in 2007 is valued at more than 10 billion dollars. Twitter has done a “Confidential Filing” or what is also called as secret IPO with the U.S. Securities and Exchange Commission (SEC). Companies in USA with less than $1 billion in revenue per year has the ability to go public without making the financials public. The rule will still make it compulsory for companies going with a secret IPO to release its financials three weeks before they start marketing the public offering in what is known as road show. Twitter may use the money it gets after the company goes public to improve its monetization efforts.
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 (NYSE).