{{Twitter says it plans to join the stock market in the most hotly anticipated flotation since Facebook’s last year.}}<\/p>\n
Referring to the official paperwork needed to join the market the company tweeted: “We’ve confidentially submitted an S-1 to the SEC for a planned [initial public offering].”<\/p>\n
Investors value Twitter, founded in 2006 by Jack Dorsey, Biz Stone and Evan Williams, at more than $10bn (\u00a36.3bn).<\/p>\n
Twitter gave no further details as to the timing or price of the offering.<\/p>\n
It is on track to post $583 million in revenue in 2013, according to advertising consultancy eMarketer.<\/p>\n
Once a company has filed paperwork with US regulators for a planned IPO it enters a so-called “quiet period” when it is not allowed to speak with the press.<\/p>\n
According to the Securities and Exchanges Commission’s website, a company can file a confidential prospectus for a public share sale if it is classified as an “emerging growth company” with revenue of less than $1bn.<\/p>\n
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