Last week Twitter formally announced that it is seeking to go public, it finally made the announced after endless speculation. It has already filed a confidential S-1 with the Securities and Exchange Commission. Analysts have been wondering exactly when the Twitter IPO date will be set. Reuters, citing inside sources, claim that the microblogging network is aiming to have its shares trading on the public market before Thanksgiving, this year. Twitter is apparently planning to raise over $1 billion from its IPO. It is poised to be the biggest tech initial public offering since Facebook went public last year.
As per the report, Twitter has picked Goldman Sachs as the lead underwriter. Other financial institutions such as Morgan Stanley, Bank of America and JP Morgan are said to be involved as well. Analysts have pegged Twitter’s value at $10 billion in the past, but now folks on the Street seem to think that the company is worth roughly $15 billion. Twitter has been around for over seven years and it boasts some 200 million monthly active users. If these inside sources are telling the truth, and Twitter is able to raise a $1 billion before Thanksgiving, then come Turkey Day, Twitter will have quite a lot to be thankful for.RELATED