Twitter has confidentially submitted an application with the U.S. Securities and Exchange Commission for a planned initial public offering, meaning the company could go public any day now.
After seven years, the San Francisco-based microblogging service decided to go public, and the tech sector is hoping Twitter’s IPO will go a little smoother than Facebook’s botched offering last year.
Twitter was able to apply confidentially because it made less than $1 billion in revenue in the most recent fiscal year, helping to keep the IPO plans under wraps from the press and the public.
Twitter, originally named twttr, became official when Jack Dorsey, a New York University undergraduate student, sent the first tweet on March 21, 2006.
According to a recent company blog post, Twitter now has more than 200 million users worldwide.
IBT Tech Reporter Ryan Neal wrote about the rise of Twitter over the past seven years and stopped by to talk about it with us.