Twitter used the best way it knows how to give investors what they've been pining for - Twitter announced on Twitter that it's filed for an IPO. The filing is under wraps due to a provision in the U.S. Jobs Act that allows companies with under a billion dollars in annual revenues to do so confidentially. In just 7 years time the micro-blog has been the go-to form of communication in the tech age. Billionaire investor Carl Icahn uses it to dispense investment tips, stars like Kim Kardashian keeps her hungry fans informed via her tweets, and even President Obama sends out a Tweet every now and then, signed "BO", to his more than 36 million followers, according to Twitter Counter. Wall Street has been hungry for this as it lays aside the bruising it took from the Facebook IPO. As of late, analysts have been tripping over themselves to raise their price target on that social network, sending its shares to post-IPO highs. Now it looks like the social network love affair is back on. Twitter is worth more than $10 billion, according to estimates by private investors; on track to rake in more than half-a-billion dollars in revenues by the end of the year, according to eMarketer. Goldman Sachs takes home the big prize, sources say - beating out the rest of Wall Street to bring this highly-anticipated IPO to market.
1. IPO is an abbreviation for initial public offering, a stock market launch where shares are sold to the general public. We also talk about a company going public. • The offering is expected to be the tech world's largest since Facebook went public in May 2012.
2. If you keep something under wraps, you keep it a secret until some time in the future. • Next year's collection is still being kept under wraps.
3. If people are tripping (or falling) over themselves to do something, they are very eager or keen to do it. • Producers are sure to be tripping over themselves to sign up the showbiz cow for a million-dollar film.