Twitter is reportedly readying itself for a stock market float next year in which it could be valued at as much as $15bn.
According to the Sunday Times, the social network's management will select several investment banks in the coming weeks to handle the listing. The paper refers to senior banking sources who say the company could float as early as the first quarter of 2014.
Founded seven years ago by Jack Dorsey, who retains a 3 per cent stake, Twitter today has 500 million users. Its earnings, however, remain a secret.
Dick Costolo, Twitter's chief executive, has already discussed the site's stock market ambitions with potential advisers including Morgan Stanley, Goldman Sachs and JP Morgan, the Sunday Times reports.
If Twitter's flotation plans proceed as rumoured, the site will be following in the footsteps of its counterpart Facebook, which made its eventful public debut last year. Facebook's shares closed on Friday at $41.29.
Like what you see? We can email it to you
