Social media company Twitter today tweeted that it is taking steps towards going public.
“We’ve confidentially submitted an S-1 to the SEC for a planned IPO,” the company said on its @twitter account, adding “This Tweet does not constitute an offer of any securities for sale.”
Twitter has been looking to build its advertising business in part by aligning itself more closely with TV watching and TV ad targeting. It recently announced a partnership with Viacom to create social video advertising campaigns that launched with the Video Music Awards on MTV. Earlier this year, it acquired Bluefin Labs, a company that analyzes social media use.
Earlier this week, Twitter said it bought MoPub, a company that manages mobile ad inventory for $350 million in stock.
The S-1 is a confidential document that regulators at the SEC review for issues before a company takes further steps towards an initial public offering of stock.
It was unclear how much money Twitter would seek to raise in its offering.
Silicon Valley website Tech Crunch estimated that Twitter might be valued at between $15 billion and $20 billion. That would be well short of the $100 billion Facebook was worth when it went public.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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