Sept. 12 - Micro-blogging site Twitter says it filed with the SEC for a public offering, though it did so in a way that allowed it to keep the details secret for now. The move comes as the last big IPO, Facebook, is finally marching to new highs. Conway G. Gittens reports.
PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL Twitter used the best way it knows how to give investors what they've been pinning for - Twitter announced on Twitter that it's filed for an IPO. The filing is under wraps due to a provision in the U.S. Jobs Act that allows companies with under a billion dollars in annual revenues to do so confidentially. In just 7 years time the micro-blog has been the go-to form of communication in the tech age. Billionaire investor Carl Icahn uses it to dispense investment tips, stars like Kim Kardashian keeps her hungry fans informed via her tweets, and even President Obama sends out a Tweet every now and then, signed "BO", to his more than 36 million followers, according to Twitter Counter. Wall Street has been hungry for this as it lays aside the bruising it took from the Facebook IPO. As of late, analysts have been tripping over themselves to raise their price target on that social network, sending its shares to post-IPO highs. Now it looks like the social network love affair is back on. Twitter is worth more than $10 billion, according to estimates by private investors; on track to rake in more than half-a-billion dollars in revenues by the end of the year, according to eMarketer. Goldmam Sachs takes home the big prize, sources say - beating out the rest of Wall Street to bring this highly-anticipated IPO to market.