By Will Oremus
Posted Thursday, Sept. 12, 2013, at 7:21 PM
Twitter is going public.
Photo by Leon Neal/AFP/Getty Images
As long anticipated, Twitter is going public. It almost goes without saying that the social network broke the news on Twitter. Its announcement came in five characters under the microblogging site’s 140-character cutoff:
The offering is expected to be the tech world’s largest since Facebook went public in May 2012. Analysts valued Twitter at $10 billion earlier this year, and it may be worth a little more than that today. But as my colleague Matt Yglesias points out, the fact that it is filing confidentially implies that its annual revenues have not yet reached $1 billion. Following the lead of Facebook and other Internet companies whose fortunes depend on an enormous user base, Twitter has been cautious about turning its service into a money-maker so far, with ads few…
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