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Twitter plans stock market listing Twitter plans stock market listing
(35 minutes later)
Twitter has announced it has filed paperwork with US regulators ahead of a planned stock market flotation.Twitter has announced it has filed paperwork with US regulators ahead of a planned stock market flotation.
"We've confidentially submitted an S-1 to the SEC for a planned [initial public offering]," the company tweeted on its official feed."We've confidentially submitted an S-1 to the SEC for a planned [initial public offering]," the company tweeted on its official feed.
The stock offering is the most hotly anticipated since Facebook listed its shares last year.The stock offering is the most hotly anticipated since Facebook listed its shares last year.
Twitter did not say when it plans to make the offering, and gave no further details in its tweet.Twitter did not say when it plans to make the offering, and gave no further details in its tweet.
Once a company has filed paperwork with US regulators for a planned IPO it enters a so-called "quiet period" when it is not allowed to speak with the press.Once a company has filed paperwork with US regulators for a planned IPO it enters a so-called "quiet period" when it is not allowed to speak with the press.
According to the Securities and Exchanges Commission's website, a company can file a confidential prospectus for a public share sale if it is classified as an "emerging growth company" with revenue of less than $1bn.According to the Securities and Exchanges Commission's website, a company can file a confidential prospectus for a public share sale if it is classified as an "emerging growth company" with revenue of less than $1bn.
Twitter has been valued by private investors at more than $10bn (£6.3bn), and is on track to post $583 million in revenue in 2013, according to advertising consultancy eMarketer.Twitter has been valued by private investors at more than $10bn (£6.3bn), and is on track to post $583 million in revenue in 2013, according to advertising consultancy eMarketer.
Users engaged
On Monday it had acquired MoPub, a mobile-focused advertising exchange, for a reported $350m, as part of its continued push to boost advertising.On Monday it had acquired MoPub, a mobile-focused advertising exchange, for a reported $350m, as part of its continued push to boost advertising.
Facebook listed on the stock market in May last year. Although it initially created excitement among investors, its share price performed poorly, before recovering this summer.
Colin Gillis, a New York based tech specialist at BGC Financial, said it was impossible to say how great the demand for Twitter shares would be until the company released a valuation.
"There's a few issues [such as] how many revenue streams can be developed beyond just advertising, the impact of more people accessing the service via smartphones," Mr Gillis said.
"And there's the overall size of the deal. Twitter is one of the last of the major developed social networks to file [for an IPO] - we've already had Facebook and LinkedIn."
Analysts say Twitter must continue to innovate under the scrutiny of public ownership.
"One of the things they will have to focus on is making sure that they keep their users very actively engaged," Nate Elliott, an analyst at the tech consultancy Forrester, told the BBC.
"One of the things Facebook has done very successfully over the past year and a half has been to show that not only is the number of users growing, but that those users are becoming more active."