Want To Own A Piece Of Twitter? You Might Be Able To In The Near Future
Let's face it. While Facebook may have more users and might be on its way back up to the top after a short-lived downfall, Twitter is very much the en vogue social network at this time. You just may have the chance to own a part of the company that has gotten millions hooked on expressing themselves in 140 characters or less.
The site looks as though it's bound for Wall Street, despite the fact that Twitter CEO Jack Dorsey has sent close observers in different directions. From telling Bloomberg in late April that his company is “not even thinking” about an IPO, to then hiring Morgan Stanley managing director Cynthia Gaylor just a few days later, Twitter made hints at adding experience in areas which were necessary to go public.
Now, Dorsey and Twitter have given the clearest indication thus far that the social networking site will offer shares of its company after a job posting on LinkedIn let the cat out of the bag. The micro-blogging site is apparently searching for a “financial reporting manager.” The duties of said manager would include being “responsible for preparation of monthly reporting materials, quarterly/annual financial statements and Form S-1 when [Twitter is] ready to go public.”
With recent estimations setting Twitter's value at an approximate $10 billion, $600 million in revenue expected for 2013, and nearly $1 billion expected in 2014, the company looks set to have the biggest IPO in the tech industry since Facebook went public in May of 2012.
No one knows for certain when Twitter will plan to hit the stock market and open up the offer for tons of shares to willing buyers, but rumors have circulated that the world could see CEO Jack Dorsey announce it in early January. Others have speculated that the site will likely make an amount upwards of $10 billion if and when they do, indeed, offer an IPO.
Photo courtesy Pando Daily
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