Social-networking company has finished its paperwork and could begin trading publicly before Thanksgiving, a source tells Quartz. September 29, 2013 4:27 PM PDT Twitter has wrapped up the paperwork for its initial public offering file and intends to release it to the public this week, a person familiar with the plan told Quartz. The social-networking company is reportedly mulling a schedule that would get its shares on the public market prior to Thanksgiving, possibly on the New York Stock Exchange. However, Quartz's source cautioned that the filing could still be delayed by a variety of factors, including changes in market conditions and the threatened shutdown of the federal government. CNET has contacted Twitter for comment and will update this report when we learn more. Related stories Why the NFL made Twitter its first social draft pick Photographs get new 'front and center' look on Twitter Target joins crowded video-streaming scene When Twitter announced its initial public offering on September 12, the company tweeted that it had "confidentially submitted" its IPO documents with the SEC, allowing it to take advantage of a JOBS Act provision that allows companies with sales of less than $1 billion to begin the IPO registration process confidentially. The approach allows Twitter to go through several rounds of back and forth with the SEC over the wording of its filing in secret, allowing it to present a much cleaner registration when the company formally files to go public. The process also allows Twitter to keep a lid on substantial company information, such as data about its customers, revenues, and users. The company is reportedly going to great lengths to avoid issues that befell Facebook's IPO, going so far as to secretly file its IPO papers with the SEC in mid-July -- almost two months before it revealed the filing to the public.
Social-networking company has finished its paperwork and could begin trading publicly before Thanksgiving, a source tells Quartz.
Twitter has wrapped up the paperwork for its initial public offering file and intends to release it to the public this week, a person familiar with the plan told Quartz.
The social-networking company is reportedly mulling a schedule that would get its shares on the public market prior to Thanksgiving, possibly on the New York Stock Exchange. However, Quartz's source cautioned that the filing could still be delayed by a variety of factors, including changes in market conditions and the threatened shutdown of the federal government.
CNET has contacted Twitter for comment and will update this report when we learn more.
Related stories
- Why the NFL made Twitter its first social draft pick
- Photographs get new 'front and center' look on Twitter
- Target joins crowded video-streaming scene
When Twitter announced its initial public offering on September 12, the company tweeted that it had "confidentially submitted" its IPO documents with the SEC, allowing it to take advantage of a JOBS Act provision that allows companies with sales of less than $1 billion to begin the IPO registration process confidentially.
The approach allows Twitter to go through several rounds of back and forth with the SEC over the wording of its filing in secret, allowing it to present a much cleaner registration when the company formally files to go public. The process also allows Twitter to keep a lid on substantial company information, such as data about its customers, revenues, and users.
The company is reportedly going to great lengths to avoid issues that befell Facebook's IPO, going so far as to secretly file its IPO papers with the SEC in mid-July -- almost two months before it revealed the filing to the public.
