Twitter files confidential IPO registration

Since Twitter has submitted for IPO confidentially that means it had annual revenue of less than $1 billion in the recent fiscal year, as the US Jumpstart Our Business Startups Act only allows companies with less than $1 billion in annual gross revenue to file in secret.

Goldman Sachs will reportedly be a lead underwriter with a primary directive for organizing an initial public stock offering for Twitter, Bloomberg reports.

Twitter is one of the fastest-growing social media services used worldwide and its IPO has been long expected. Last month, GSV Capital Corp (GSVC), one of Twitter’s investors, valued the company at over $10 billion, achieving about five per cent growth in three months.

However, many potential investors worry that listing Twitter shares will have a similar effect as the initial offering of Facebook that went public in May 2012.  

source rt.com