(NEW YORK) — Social media site Twitter has filed an application with the Securities and Exchange Commission for an initial public offering, or IPO.
True to its business, Twitter tweeted on Thursday, “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.”
The company filed a confidential S-1 filing, as permitted with the Jobs Act. That means the S-1 filing, revealing details about Twitter’s business such as its user base, will become public no later than 21 days before the firm’s road show with potential investors.
The Jobs Act permits companies with less than $1 billion in annual revenue to file a confidential S-1, providing one clue about its valuation.
Copyright 2013 ABC News Radio
Katelyn Carmen, FamilyShare
Emanuella Grinberg, CNN