Twitter publicly tweeted its confidential submission of an S-1 for an IPO, less than one month after the CEO stated his intention of having a “low profile” offering. Twitter’s IPO is one of the most anticipated IPOs since Facebook’s May 2012 offering.
The confidential submission process remains a preferred choice for emerging growth companies (those with <$1 billion in revenue). Approximately two-thirds of the 131 IPOs priced so far this year have used confidential filings during their IPO process. Based on Renaissance Capital’s historical data, this would suggest Twitter could publicly file in 2013, with a likely pricing in early 2014.
