File photo dated September 11, 2013 shows the logo of the social networking website 'Twitter' displayed on a computer screen in London. The San Francisco company Twitter announced on September 12, 2013, in a tweet, that it has submitted papers for a stock offering, the most hotly anticipated in the tech sector since Facebook's last year. "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," the company tweeted. Talk of an initial public offering (IPO) has circulated about Twitter for some time, and the Wall Street Journal estimated the company founded in 2006 is worth some $10 billion. Twitter has become one of the fastest-growing and most influential social media services, used widely by celebrities, journalists, politicians and others. Photo AFP / Lehtikuva
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.
