"It's typical for private companies with large numbers of employees and stockholders to have stock/equity teams, and we have had one for a couple years," Twitter spokesman Jim Prosser said of the recent hiring of its stock administration analyst.
Twitter CEO Dick Costolo has publicly denied the company is focusing on an IPO. Co-founder Jack Dorsey, who sits on the board and runs Square, has told Bloomberg News that Twitter is "not even thinking" of an IPO. Square has deferred IPO-related questions to Twitter.
Twitter has a valuation of about $10 billion, estimates Wedbush Securities analyst Michael Pachter, who says the company is expected to have about $300 million in revenue this year.
"They haven't filed, so nobody has seen financials," Pachter says. "When they file, we will have more info."
(Read more: Epic Twitter feuds)
IPOs are on the rise. So far this year, 125 offerings have been priced, up 33% from last year, according to Renaissance Capital. Reasons for the increase: gains in the broader stock market and individual stocks reaching new highs.
Facebook's stock rebound helps. Its IPO flop in May 2012 put the brakes on enthusiasm for stock offerings of consumer Internet companies. At its first shareholder meeting earlier this year, individual investors lined up to complain about stock market losses from the IPO. At one point last year, the stock fell below $18 a share, less than half its $38 IPO price.
But with the stock passing its offering price this month, sentiment has begun to change on tech IPOs.
- By USA Today
Source: http://www.cnbc.com/id/100956223
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