DAILY DOT COM - First Facebook now Twitter has decided to go public. The company aptly announced on its short messaging service Thursday afternoon that it has filed documents for an initial public offering of stock.
On its official Twitter page, Twitter wrote, "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."
Translation: we are not going public tomorrow or next month for that matter...but we are getting our paperwork ducks in a row.
The documents Twitter filed with the Securities and Exchange Commission are sealed, as Twitter is taking advantage of federal legislation passed last year that allows companies with less than $1 billion in revenue in its last fiscal year to avoid submitting public IPO documents.
Rumors about twitter going public have circulated for several years now.
After Facebook's IPO in May 2012, it was widely believed that Twitter would be the next major technology company to offer its stock to public investors.
Twitter first hit the scene in 2006. As of March, it had more than 200 million active users around the world. Users include heads of state, celebrities, revolutionaries and journalists.
Most of Twitter's revenue comes from advertising. Research firm eMarketer estimates that Twitter will generate $582.8 million in worldwide ad revenue this year, up from $288.3 million in 2012.
Earlier this year the site was valued at $11 billion dollars, or roughly $27 a share. However, it's anyone's guess whether Twitter will price its shares below that.
If history teaches us anything...sometimes it pays off to buy early. Facebook shares have recovered from the plunge the social media giant took when it first went public in May 2012...starting at $38-dollars...then dropping as low as $18...to selling at $44 as of September 2013.
LinkedIn, which went public in May 2011, has done even better. The social media site - focuses on business connections --and saw its shares soar to almost $250 a share from its $45 offering price. Investors might want to start saving their pennies for when the filing is unveiled.
A Baldwin County resident and his girlfriend were shopping at the Piggly Wiggly grocery store in Foley recently and noticed an envelope sitting on a shelf with money in it.
A year ago the Auburn tigers finished the season 3 and 9, winless in the SEC. Following the 2012 season, Auburn hired a new head coach, Gus Malzahn – who has changed the script for the Tigers.
Robertsdale police say a man was the victim of a hit and run Saturday, around 30 minutes before the start of the city's annual Christmas parade.
Tre Mason rushed for 304 yards and four touchdowns, leading No. 3 Auburn to a wild 59-42 victory over No. 5 Missouri in the Southeastern Conference championship game Saturday.
Residents in Creola and Saraland have a lot on the line this week as voters prepare to head to the polls Tuesday, December 10.
The GoDaddy Bowl announced Sunday, December Ball State University (10-2, 7-1) with the Mid-American Conference has accepted an invitation to play in the 2014 GoDaddy Bowl game against the Sun Belt Conference co-champion, Arkansas State University.