Twitter Plans Stock Market Listing

{{Twitter says it plans to join the stock market in the most hotly anticipated flotation since Facebook’s last year.}}

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].”

Investors value Twitter, founded in 2006 by Jack Dorsey, Biz Stone and Evan Williams, at more than $10bn (£6.3bn).

Twitter gave no further details as to the timing or price of the offering.

It is on track to post $583 million in revenue in 2013, according to advertising consultancy eMarketer.

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.

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.

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