Twitter Announces Plans for IPO

Your News Companion by Ben Mathis-Lilley
Sept. 12 2013 5:12 PM

Twitter Announces Plans for IPO (on Twitter, Naturally)

And fittingly with that tweet, Twitter confirmed widespread (but until now unsubstantiated) rumors that it plans to go public. For those wondering, the confidential submission appears to be under a new provision in last year's JOBS Act that lets firms with less than $1 billion in annual revenue keep their IPO filing under wraps at the outset of the filing process. (Quartz has more on the confidential process here.)

As TechCrunch notes, analysts expect Twitter to go public with a valuation of between $15 billion and $20 billion. For comparison, Facebooks IPO last year valued the social media giant at about $100 billion.

Josh Voorhees is a Slate senior writer. He lives in Iowa City.