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According to Twitter’s chief executive officer, Dick Costolo, the popular social microblogging website is in no hurry to announce an initial public offering.
It’s really no surprise that Costolo is taking his time deciding when to announce his company’s IPO to the public, especially considering how it really wasn’t all that long ago when Facebook Inc (NASDAQ:FB) launched their IPO and it turned out not to be as successful they initially thought it would be. Mark Zuckerberg set Facebook Inc (NASDAQ:FB)’s initial public offering at $38 per share, the third largest IPO in the history of the United States.
Costolo recently sat down with CNBC, where he told Julia Borstein that there are no external influences that could sway his decision to put Twitter up. He also mentioned that he doesn’t have any desire to sell his company.
When Google Inc (NASDAQ:GOOG) released their IPO to the public in 2004, there was a total of 19,605,052 shares, each of which was worth $85 a share. Obviously, I doubt that Twitter (or even most big tech companies for that matter) could have the same amount of success that Google had with their IPO, but that’s not to say that they couldn’t have better luck with it than Facebook Inc (NASDAQ:FB).
I’m pretty sure that Twitter will one day release their IPO to the public, but when that will happen still remains unknown. The fact that they’re even talking about it indicates that something could be brewing. If this is true, perhaps Costolo doesn’t want it to happen and that’s why he stated what he did.
Twitter is a very popular social media platform, and although it certainly isn’t quite on the same level that Facebook Inc (NASDAQ:FB) or Google Inc (NASDAQ:GOOG) is, it certainly doesn’t mean that they’re not immune to change. Something could, and probably will happen, and it will probably happen sooner, rather than later.