Twitter Files For IPO

4:34 PM, Sep 12, 2013   |    comments
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Matt Krantz, USA TODAY

Twitter disclosed on Twitter Thursday afternoon that it's in the process of filing for an initial public offering.

On its official Twitter page, Twitter wrote, "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 message comes straight out of the boilerplate language used on a typical regulatory filing when a company intends to sell publicly traded shares to investors.

So far, the company had not filed an official registration statement with the Securities and Exchange Commission, which is the first step in moving toward an IPO. By submitting the S-1 to the SEC in private, that gives regulators a chance to look it over and point out any issues before Twitter makes it available to the public, says Francis Gaskins of IPO No price range for the stock has been set.

Given the status of the filing at this point, Gaskins expected the deal to hit the stock market by early December. The fact that Facebook shares recently closed at an all-time record after many months of a subpar stock price may help fan demand for the stock.

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