Twitter announces plans to go public - WKRN News 2

Twitter announces plans to go public

Posted:

NEW YORK (AP) - Twitter is going public. The short messaging service aptly tweeted on Thursday it has filed confidential documents for an initial public offering of stock.

But the documents are sealed, as Twitter is taking advantage of federal legislation passed last year that allows companies with less than $1 billion in revenue in its last fiscal year to avoid submitting public IPO documents.

San Francisco-based Twitter Inc. posted on its official Twitter account Thursday afternoon that it has "confidentially submitted an S-1 to the SEC for a planned IPO."

The confidentiality will likely help Twitter avoid the public hoopla that surrounded the initial public offerings of other high-profile social networking companies, including Facebook Inc., which went public in May 2012.

Twitter's IPO has been long expected. The company has been ramping up its advertising products and working to boost ad revenue in preparation.

Most of Twitter's revenue comes from advertising. Research firm eMarketer estimates that Twitter will make $582.8 million in worldwide ad revenue this year, up from $288.3 million in 2012. By comparison, Facebook had ad revenue of $1.6 billion in the April-June quarter of this year. By 2015, Twitter's annual ad revenue is expected to hit $1.33 billion.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Mom bites off dog's ear to save daughter during attack

    Mom bites off dog's ear to save daughter during attack

    Tuesday, April 22 2014 2:49 PM EDT2014-04-22 18:49:19 GMT
    Image from CNN/KHOU-TVImage from CNN/KHOU-TV
    In a backyard in Alvin, swings a very lucky girl. Her name is Mackenzi Plass, or Kenzi for short, and she survived a dog attack and has undergone several surgeries."She'll be two and a half in May," said her very proud mother Chelsi Camp. "She's doing great. You wouldn't know it if you couldn't see."Mackenzi has scars on her face after the ordeal just weeks ago that put her mother's animal instincts to the test."You do whatever you can," said Camp. "I don't have physical strength at my side."...More >>
    In a backyard in Alvin, swings a very lucky girl. Her name is Mackenzi Plass, or Kenzi for short, and she survived a dog attack and has undergone several surgeries."She'll be two and a half in May," said her very proud mother Chelsi Camp. "She's doing great. You wouldn't know it if you couldn't see."Mackenzi has scars on her face after the ordeal just weeks ago that put her mother's animal instincts to the test."You do whatever you can," said Camp. "I don't have physical strength at my side."...More >>
  • 38 dogs rescued in north Nashville dog fighting bust

    38 dogs rescued in north Nashville dog fighting bust

    Wednesday, April 23 2014 6:09 PM EDT2014-04-23 22:09:20 GMT
    A drug bust last week led to Tuesday’s seizure of 38 dogs from an alleged dog fighting ring in north Nashville.More >>
    A drug bust last week led to Tuesday’s seizure of 38 dogs from an alleged dog fighting ring in north Nashville.More >>
  • Giles County student injured, another charged in fight over gum

    Giles County student injured, another charged in fight over gum

    A Giles County middle school student is facing criminal charges and his classmate facial surgery after the two got into a fight over gum.More >>
    A Giles County middle school student is facing criminal charges and his classmate facial surgery after the two got into a fight over gum.More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WKRN (Young Broadcasting station). All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.