SAN FRANCISCO – Twitter is now preparing to issue the public IPO after watching the return of favor of Wall Street by it’s social media companion – Facebook. The filing of regulatory will be public very soon in early 2014. The investment community is expecting that the micro-blogging company is waiting for the right time to become a public company by providing Initial Public Offering.
According to IPOScoop.com, The S-1 (form) could show up any time! Although Twitter recently signaled that the IPO is getting ready recently, the company’s management is now denying about this matter. However, it can’t hide the truth for much longer. Recently, Twitter has posted the job opening in LinkedIn for the post of Financial Reporting Manager and the job duties were like this –
Responsible for preparation of monthly reporting materials, quarterly/annual financial statements and Form S-1 when we are ready to go public.
Now, after the reporting of this news in media, Twitter removed the job posting from LinkedIn. Recently the company has hired the Stock Administration Analyst, which provides more evidence to the rumor of being the Public Company soon.
After recent hiring of its stock administration analyst, Twitter spokesman Jim Prosser said, “It’s typical for private companies with large numbers of employees and stockholders to have stock/equity teams, and we have had one for a couple years,”. Twitter CEO Dick Costol and the co-founder Jack Dorsey both publicly denied about going public.
Twitter is expected to have about $300 million in revenue this year and has an approximate valuation of $10 billion. Tis is just the estimation by the experts. They never filed till date, so we will come to know about their financials in-depth only after filing the IPO. According to Renaissance capital, IPOs filed are on the rise, so far this year 125 Offerings has priced upto 33% from last year. Facebook has also recovered from the drastic fall ($38 to below $18) after filing the IPO last year and is in jumping phase (already crossed the IPO price). So, this could give more confidence for the Twitter to file the IPO soon. This rise of FB’s stock has changed the sentiments of many tech IPOs. Will you invest in Twitter, if it comes to Wall Street?