Twitter files for IPO
The ‘Twitter’ logo is seen on a tablet screen on Dec. 4, 2012 in Paris. A French court ruled that Twitter could face fines if it does not release the names of users that tweeted anti-Semitic content.
Twitter said Thursday it had submitted documents to the US Securities and Exchange Commission for an initial public offering.
The social media giant made the hotly anticipated announcement via a tweet.
SEC rules allow Twitter to keep its S-1 filing secret from the public, for now. Information in the documents includes basic company information, its financial performance and potential market risks.
In accordance with the Jumpstart Our Business Startups, or JOBS Act, passed last year, firms defined as “emerging growth companies” with annual revenue of less than $1 billion do not have to make the documents publicly available until three weeks before they approach potential investors on Wall Street.
Twitter has said it has “well over 200 million” active users, including celebrities, journalists and politicians. Some put the figure much higher.
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