Twitter announced that it had "confidentially submitted an S-1 to the SEC for a planned IPO." Recently, Twitter has increased advertising revenue by showing ads in the streams of tweets users see. The company will earn $583 million in 2013 and expects to reach $1 billion in revenue in 2014 according to eMarketer. Gartner analyst Brian Blau believes that, with those projected earnings, it makes sense that Twitter now plans to raise money with an IPO. The steps required in the IPO process suggests that public sales are timed for the start of the fourth quarter, which has been, according to Sam Schwerin of Millennium Technology Value Partners, a strong period for social media activity. Francis Gaskins of IPOdesktop.com expects public sales of the stock to begin in December. Facebook and LinkedIn shares have both rallied over the past few months. Facebook shares are up 60%, and LinkedIn shares are up 117%. Twitter's shares have been sold in the private, secondary market. Some secondary market deals have valued Twitter at over $10 billion. A deal at the start of 2013, which saw a fund run by Blackrock invest $80 million in Twitter, valued the company at over $9 billion. Schwerin believes the rallies for Facebook and LinkedIn will support the valuation of Twitters stock. For its offering to go smoothly, however, Twitter will need those rallies, strong results from its IPO, and a supportive stock market. Renaissance Capital reports demand for IPOs in general, and for IPOs from technology companies, is on the increase. So far this year, health care IPOs have seen a 16% increase in the value of the stock on the first day of trading. Financial companies have seen a 5% increase. Tech IPOs have averaged a 23% increase. The Jumpstart Our Business Startups Act, passed in April 2012, allows a business with less than $1 billion in annual revenue to make a confidential filing of an IPO prospectus. Regulators examine the prospectus for problems before the offering goes public.
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