Dive summary:
- Twitter revealed in a Thursday tweet (of course) that it filed for an IPO.
- New rules allow companies under $1 billion to keep their filing with the SEC confidential until three weeks before what is referred to as a "road show"—the shopping around of Twitter stock to investors.
- The announcement comes after the company acquired the mobile advertising startup MoPub, which could fuel purchases via the the mico-blogging platform.
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
Now, back to work. pic.twitter.com/e4lK8e7pY9
— Twitter (@twitter) September 12, 2013
From the article:
"The 'confidential' part is apparently in reference to new rules that allow companies with less than $1 billion in revenue to go public yet delay the release of their financial documents until three weeks before the traditional 'road show' of shopping the company to prospective investors and bankers, The Verge notes."
