Twitter plans to hit the stock market, according to an official statement, hinting at increased advertising opportunities as the company looks to monetise its output further.
The initial public offering promises to be the most highly publicised since that of Facebook last year.
Appropriately enough, micro-blogging platform Twitter announced its plans via an official company tweet:
"We've confidentially submitted an S-1 to the SEC for a planned [initial public offering]."
Twitter is expected to post revenue for the year of more than $500 million, and the company is valued at more than $10 billion (£6.3 billion) by investors. But the company has not revealed what the price of the offering will be, or when the action will take place.
Founded in 2006, by Jack Dorsey, Biz Stone and Evan Williams, Twitter has grown into one of the world’s largest and most lucrative social networks. The site is already monetised with advertisers taking advantage of promoted tweets, but the company is expected to explore other advertising opportunities, particularly in the mobile sphere.
Earlier this week, Twitter announced the purchase of MoPub, an advertising exchange which focussed on mobile. The acquisition cost the company a not inconsiderable $350 million, but is expected to earn more in new advertising revenue.
An initial public offering suggests that further growth is at the forefront of Twitter’s plans. Joining the stock market also allows the company to reward its early investors. There is also a status which comes with being a player on the stock exchange which distinguishes the company from the average tech start-up.
Facebook fared poorly to begin with after joining the stock market, but this summer its shares have reached an all time high, thanks to a successful campaign of proving the worth of its advertising space. It accomplished this by proving that its large database of users were actively engaged on the most part, and would interact with advertising brands.