The social network revealed the news via a tweet from its official Twitter account, stating: "We’ve confidentially submitted an S1 to the SEC for a planned IPO. This Tweet does not constitute an offer of any securities for sale."
We’ve confidentially submitted an S-1 to the SEC for a planned IPO. This Tweet does not constitute an offer of any securities for sale.— Twitter (@twitter) September 12, 2013
Twitter, which has over 200m "active" users, has been valued at $10bn by investors, though reports speculate that the IPO may see the business reach a value of up to $15bn. It has selected Goldman Sachs as its underwriter for the flotation.
In May, Twitter fuelled speculation that it would seek an IPO by appointing a Morgan Stanley investment banker, Cynthia Gaylor, as its head of corporate development.
Earlier this week, Twitter further its commercial ambitions with the acquisition of mobile-focused ad exchange, MoPub for a reported $350m (£223m).
According to research firm eMarketer, Twitter is expected to earn $582.8m in global ad revenue this year, rising to around $1bn in 2014. The growth has been driven by Twitter’s success on mobile, which is expected to provide more than half of its 2013 revenues.
Twitter has steadily increased the number of ad formats available to advertisers, including Promoted Tweets. It was also reported yesterday that Twitter has begun embedding its staff in advertisers’ marketing departments, with Twitter employees operating within Cadbury-owner Mondelez.
However, the business has also faced criticism over its approach to cyber-bullying. In July, it announced plans to introduce a "report abuse" button after tens of thousands of users petitioned the social network following attacks on the woman who campaigned for Jane Austen to become the new face of the £10 note.
Now, back to work. pic.twitter.com/e4lK8e7pY9— Twitter (@twitter) September 12, 2013