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Going Public: Twitter Files for an IPO

The micro-blogging social media network Twitter announced on Thursday that it has filed paperwork with the Securities and Exchange Commission for an initial public offering (IPO). The news means that, like Facebook, Twitter will become a publically traded company.

According to the research firm eMarketer, Twitter’s revenue is expected to double in 2013 to $583 million. There is already more than $1 billion invested in the social media company.

Twitter has over 200 million active users per month and experiences a volume of over 500 million tweets per day.

“The San Francisco-based company was founded in 2006 by Jack Dorsey, Biz Stone, Noah Glass and Evan Williams,” Investor’s Business Daily reports. “CEO Dick Costolo, previously a group product manager at Google, took over from Williams in October 2010.”

h/t Huffington Post

[photo via Twitter]

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