In a move that has been long anticipated by business and technology experts worldwide, San Francisco-based Twitter announced Thursday that it has privately filed for its first public sale of shares.
Twitter said Thursday afternoon in a statement that "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."
Experts project the Twitter IPO to create as much of a stir as the Facebook IPO did but Twitter executives are hoping for a smoother road for the company and investors.
"Twitter's massive growth has produced strong IPO buzz for years, but neighbor Facebook's rough Wall Street debut quieted much of the excitement," according to the Wall Street Journal.
"The Menlo Park company exercised a record-breaking IPO in May 2012 that valued CEO Mark Zuckerberg's creation at more than $100 billion, but problems with initial trades and doubts about Facebook's ability to generate revenues helped push shares from an initial price of $38 to less than $20 in the first year of public availability."
Facebook's Wall Street experience has become less hectic and the company's stock has fully recovered, posting an all time high of $45 Wednesday after recent earnings reports showing strong gains in mobile revenues.
Twitter was founded in 2006 by Jack Dorsey, Ev Williams and Biz Stone, and has grown to more than 200 million users who share their thoughts in bursts of no more than 140 characters at least once a month, with estimates of total users surpassing 500 million.
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