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Sat, 14 Sep, 2013 12:00:03 AM
FTimes News Desk, September 14

Micro-blog service Twitter announced, in a tweet, on Thursday that it would be enlisted on the stock exchange to be traded as a public company, news agency STT reported quoting AFP.

The company tweeted, "We have confidentially submitted an S-1 to the SEC for a planned IPO. This Tweet does not constitute an offer of any securities for sale," according to the AFP. 

This announcement has been expected as early as last year when the social networking service Facebook was listed on the stock exchange. Then the Twitter CEO Dick Costolo said that the time was not yet ripe for a stock market listing. 

Wall Street Journal has estimated the value of the Company to be approximately euro 7.5 billion. The company is expected to generate advertising revenues over the next year of about 750 million euros.

Twitter’s financial details are still confidential. 

Twitter is one of the fastest growing and most influential social networks. The company said earlier this year it had "well over 200 million" active users, although some analysts place figure much higher.

 
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