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Twitter tweets own IPO filing

Published: Friday, Sept. 13, 2013 1:15 a.m. CDT

The most anticipated Silicon Valley initial public offering since Facebook is in the pipeline: San Francisco-based Twitter Inc. announced Thursday that it has privately filed for its first public sale of shares.

In a message sent on the corporate account of its own microblogging service, Twitter said Thursday afternoon, “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 was founded in 2006 by Jack Dorsey 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.

Twitter’s massive growth has produced strong IPO buzz for years, but neighbor Facebook’s rough Wall Street debut quieted much of the excitement: The Menlo Park, Calif., 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 Inc. stock has rebounded of late, pushing to an all-time high of more than $45 Wednesday.

The IPO market has also fully rebounded, with seven San Francisco Bay Area companies filing to go public in August.

“There’s more of an appetite for IPOs than there’s been in some time,” Thomas Kellerman, an attorney with Morgan Lewis in Palo Alto, Calif., who co-chairs the firm’s tech practice, told the San Jose Mercury News last month.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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