The online social networking and microblogging site is to flood the stock market next month when its shares will be made available on Wall Street.
The popular website, launched in 2006, has an estimated net value of between $12 billion and $15 billion.
Twitter is set to go public in November and is proposing to list under the trading symbol TWTR.
But what is the significance of this event?
Well, Twitter’s imminent release of shares to the public will be celebrated as the biggest coming-out party since Facebook and Wall Street’s largest exchanges are battling it out to host it.
The company is believed to make its shares public before the American holiday Thanksgiving, in late November.
Overseeing Twitter’s trading and listing the firm’s shares translates to additional revenue at a time when the New York Stock Exchange and Nasdaq Stock Exchange are caught in a downward spiral and struggling to keep up with changes in trading technologies.
Massive prestige and added investment will be undoubtedly awarded to the one who manages to host the biggest tech debut of the year, and also gives the winner an edge in reeling in other IPOs (Initial Public Offering), especially in the coveted realm of social media.
The website’s founding investor Evan Williams is estimated to net more than $1 billion from the floatation on Wall Street.
Williams used his profits from selling a previous business to Google to take an early and considerably risky gamble on Twitter in its early stages.