The Social Media Website Twitter May Or May Not Be Going Public

 @David_Kashi on July 30 2013 12:49 PM
Twitter App
Twitter app is displayed. Reuters

Twitter may be a step closer to going public as the social media website posted a job opening for a financial reporting manger, suggesting the company is preparing for a public offering soon, USA Today reported Tuesday.

The potential employee duties would be filling the company’s initial projections and outlining its public offering plans.

A job listing for Twitter on the professional social site, Linkedin, read: "Responsible for preparation of monthly reporting materials, quarterly/annual financial statements and Form S-1 when we are ready to go public.”

The CEO, Dick Costolo, and co-director Jack Dorsey, have not responded to inquiries on whether or not they will announce a public offering.  It is expected that if Twitter goes public that it would be in early 2014.

The last major social media site to go public was Facebook Inc. (Nasdaq:FB). In its first week Facebook underperformed and lost around $36 billion. When it went public in May of last year, the initial public offering was at $38 a share and by midday Tuesday shares were at $37.45.  

Shares touched a low of $17.55 last September. The company's shares began immediately falling after the public listing and have failed to touch the offer price ever since. Zuckerberg has acknowledged the resentment about the falling stock among shareholders, noting that he has no control over the company’s stock price.

Join the Discussion