Twitter took to, where else, Twitter to announce it has filed for an IPO with the Securities and Exchange Commission. The microblogging site has long been rumored to go public, especially as it is expected to bring in more than $500 million in revenue this year.
The Tweet states:
So what is the confidential nature of the S-1 filing? According to The Wall Street Journal‘s MarketWatch, the “confidential” submission is a condition of the JOBS (Jumpstart Our Business Startups) Act, which allows companies to keep some information hush hush until a details are worked out prior to the sale.
CNBC is reporting that Goldman Sachs will be the lead underwriter, with others to be named once the filing is made public. Since the filling has just taken place, no word on timing or pricing for the IPO. However Twitter has been valued at around $10 billion.