Twitter announced (with a tweet, of course), that it has filed preliminary paperwork with the SEC ahead of a planned IPO. Unlike Facebook, Twitter will be keeping its books under wraps until they legally have to open up their financial information to potential investors three weeks before the company officially goes on the stock market. In the early going, Twitter is predicted to be valued at somewhere between $14 billion and $20 billion, and Twitter is doing its best to increase ad revenue before then to pump that number up even higher.
Either way, the founders are getting theirs. Founder Jack Dorsey could see his wallet grow from $1.1 billion to around $3 billion. The co-founders, Evan Williams and Biz Stone, will be doing pretty well, too. Williams could go from $2 billion to about $8 billion, while Stone could take a huge jump from $200 million to $2 billion. Tons of other early investors in Twitter will also come out of the deal with a healthy extra chunk of change in their pockets, including Amazon’s Jeff Bezos.
Meanwhile, Twitter itself will try to avoid Facebook’s poor start on the stock market. Enthusiasm probably won’t be as great because of Facebook’s stumble out of the blocks, but no doubt much attention will be paid to it in due time – especially now that Facebook is finally trading above its IPO price, at about $44.
Via The Daily Mail