Business Technology

Friday 23 March 2018

Twitter fuels IPO rumours with job ad

Almost 975,000 people have twitter accounts in Ireland
Almost 975,000 people have twitter accounts in Ireland

Denise Roland

Twitter has given the clearest signal yet it is gearing up for an IPO after advertising a vacancy for a financial reporting manager responsible for the company's regulatory filings "when it is ready to go public".

The microblogging site described the responsibilities of the role as "preparation of monthly reporting materials, quarterly/annual financial statements and Form S-1 when we are ready to go public", on a job listing on LinkedIn seen by USA Today.

Analysts widely expect a Twitter IPO in mid-2014, citing its astronomical growth in users and a recent string of acquisitions. Founded in 2006, Twitter is currently estimated to be worth more than $9bn.

If this materialises, it could be the biggest stock market debut for a consumer web company since Facebook floated in May 2012.

The rumour mill was fired up again in May when Twitter appointed Cynthia Gaylor, formerly a tech investment banker at Morgan Stanley, as its head of corporate development. While at the bank Ms Gaylor worked with Facebook, LinkedIn and Zynga, all of which have become listed companies in the past two years.

But Twitter's senior management have consistently dismissed questions over the group's stock market prospects. Dick Costolo, Twitter's chief executive, went so far as to say an IPO was "not necessarily inevitable", while co-founder Jack Dorsey recently said the company is "not even thinking" of floating.

“A lot of people think of this as a goal you have to get to but it’s a milestone,” Mr Dorsey told Bloomberg in April.

 “If you think about it as a goal you’re rushing towards it and then stop, and that’s not the way to build a timeless company.”

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