Twitter has revealed it is set to launch a flotation on the stock market, although the company did not say when it expects this to happen.
In a Tweet posted yesterday (September 12th), the firm announced it has submitted an S-1 to the SEC for an initial public offering (IPO).
The Twitter IPO is set to be one of the most hotly-anticipated in many years within the technology sector and the company is following in the footsteps of rival social networking firm Facebook. Although stocks in Facebook fell when the organisation was first floated in February last year, they eventually clawed back their value and hit a new record high this week.
Jack Dorsey, Biz Stone and Evan Williams set up Twitter in 2006 and it has been cited as an important catalyst in bringing democracy to part of the Middle East.
According to a report by the BBC, investors are suggesting that Twitter could be worth as much as $10 billion (£6.3 billion).
Find up to date information on the FTSE 100 and spread betting strategies at City Index