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Tags: Twitter | IPO | job | Facebook

USA Today: Twitter IPO Is in the Wings

By    |   Monday, 12 August 2013 01:26 PM EDT

Twitter appears to be getting primed to unleash its initial public offering (IPO), according to USA Today.

Although Twitter executives have denied an IPO is in the works, the newspaper said the company has given hints otherwise.

Twitter recently posted a job listing on LinkedIn for a financial reporting manager, whose duties would include "Responsible for preparation of monthly reporting materials, quarterly/annual financial statements and Form S-1 when we are ready to go public." Form S-1 is filed with the Securities and Exchange Commission for registering securities to be offered on an exchange.

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The job posting has since been deleted.

USA Today reported Twitter also recently hired a stock administration analyst, saying, "The Twitter job suggests the company is moving forward to manage the allocation of its restricted stock units ahead of a planned IPO."

Wall Street has expected Twitter to have an IPO early in 2014. Wedbush Securities has estimated the social media site's valuation is about $10 billion.

"The S-1 (form) could show up at any time," predicted John Fitzgibbon, who runs IPOScoop.com.

Thus far in 2013, 125 IPO offerings have been priced, up 33 percent from 2012, according to Renaissance Capital. The recent revival of Facebook shares likely adds to enthusiasm for consumer Internet companies like Twitter.

If in fact Twitter expects to conduct an IPO in early 2014, its regulatory filings to do so may soon become public, USA Today reported.

Industry site TechCrunch agreed Twitter's IPO appears moving toward reality. "The drumbeat to Twitter's IPO has begun," TechCrunch stated.

"I hope that expectations are tempered around the initial offering, that it's more like LinkedIn's IPO than Facebook's, that folks on the inside won't mind leaving some breadcrumbs on the porch for the bankers and mom-and-pop investors to scoop up, not just because it's a noble thing to do, but because making everyone a part of the action is what Twitter is about and will set a strong foundation for what will otherwise be, in my mind, a perpetually undervalued asset," wrote TechCrunch columnist Semil Shah.

Twitter management and its investment bankers should beware that Twitter shares could be hit by the same "selling frenzy" that struck Facebook, Zynga and Groupon after those companies conducted their IPOs, 24/7 Wall Street reported.

"As the most recently generation of Web companies has shown, one tiny slip in the perceived reasons for success of an IPO can drive its shares through the floor," 24/7 Wall Street said.

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InvestingAnalysis
Twitter appears to be getting primed to unleash its initial public offering (IPO), according to USA Today.
Twitter,IPO,job,Facebook
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2013-26-12
Monday, 12 August 2013 01:26 PM
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