If you didn’t get in on the Facebook IPO and feel like it’s time you started making waves in the social network investment world, start busting open your piggy banks: Twitter announced last night (on Twitter, where else?) that it has filed confidential paperwork to kick off the process of an initial public offering.
In fewer than 140 characters, Twitter told everyone it’s starting an IPO party and hey, maybe some of you will get an invitation.
At only seven years old, Twitter is a force to be reckoned with: It’s got 200 million active users to boast and has been pulling in the beaucoup bucks in the advertising world.
There are other unknowns about how fast Twitter is growing and whether or not the company is profitable, notes the Wall Street Journal, as the company submitted its IPO filing to the Securities and Exchange Commission under a new law that lets small companies keep their IPO documents private.
Under the law, only companies that have less than $1 billion in revenues can use confidential filings. It’ll also let the company withdraw their filings if the demand isn’t that great, which means it’s not guaranteed you’ll actually get your hands on some Twitter stock.
While it could be tricky for the general public to snag a few shares amidst the heavy-hitters in the investing world, if Twitter follows in the footsteps of Facebook, it may hold back some shares just for those individual investors.
Twitter Files for Initial Public Offering [Wall Street Journal]