"Twitter has announced it has confidentially submitted a document to the Securities and Exchange Commission with plans for an initial public offering of stock.
San Francisco-based Twitter Inc. announced its plans on its official Twitter account.
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.
— Twitter (@twitter) September 12, 2013
Since Twitter has submitted for IPO confidentially that means it had annual revenue of less than $1 billion in the recent fiscal year, as the US Jumpstart Our Business Startups Act only allows companies with less than $1 billion in annual gross revenue to file in secret.
Goldman Sachs will reportedly be a lead underwriter with a primary directive for organizing an initial public stock offering for Twitter, Bloomberg reports. "
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