Twitter says it
plans to join the stock market in the most hotly anticipated flotation since
Facebook's last year.
Referring to the
official paperwork needed to join the market, the company tweeted: "We've
confidentially submitted an S-1 to the SEC for a planned [initial public
offering]."
Investors value
Twitter, founded in 2006 by Jack Dorsey, Biz Stone and Evan Williams, at more
than $10bn (£6.3bn).
Twitter gave no
further details as to the timing or price of the offering.
The microblogging
service is on track to post $583m in revenue in 2013, according to advertising
consultancy eMarketer, up from $288m in 2012.
Most of Twitter's
funding comes from advertising, with companies paying for "promoted
tweets" that appear in users' Twitter feeds.
Advertisers are
keen to target Twitter's 200 million active users, who send more than 500
million tweets a day.
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