Twitter confirms confidential IPO filing

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Twitter confirms confidential IPO filing

Can go public without disclosing financials.

Twitter has confidentially submitted a filing with the US Securities and Exchange Commission ahead of a planned initial public offering, the company said Thursday in a tweet.

A Twitter spokesman, who confirmed the authenticity of the tweet, declined to comment further.

Under the 2012 JOBS Act that eased securities regulations, companies may file to go public without disclosing certain financial records. But companies which choose to file confidentially must meet certain criteria, including annual revenue of less than US$1 billion.

Twitter, which has been valued by private investors at more than US$10 billion, is on track to post US$583 million in revenue in 2013, according to advertising consultancy eMarketer. The IPO has been one of the most highly anticipated events in the internet sector since Facebook Inc went public in May last year.

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