It finally happened. Twitter has confirmed via its official Twitter account, that it has confidentially filed an S-1 with the SEC which means that it will be going public soon.
Check it out:
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.— Twitter (@twitter) September 12, 2013
Now that Twitter’s going public, we’ll soon get to see what its revenue and profit numbers are, but it’s likely to be less than US$1-billion. Companies with less than a billion in annual revenue are able to submit IPO filings in secret with U.S. regulators under the Jumpstart Our Business Startups, or JOBS, Act.
The word is that Twitter is expected to go public at a valuation of somewhere between US$15-billion and US$20-billion. The estimations are based on its last valuation — roughly US$10 billion. We’re expecting to see a bump as investors seek returns on their investments.
Goldman Sachs is said to be the lead underwriter of the offering, but it’s not clear if the company will list on NYSE or NASDAQ — we suspect the latter. If it does it will be in the company of Facebook which had a wild start, but has stabilised to recently record a record high for its stock price.