Revealing mild secrets of the company, yesterday, Twitter made a public announcement by posting a tweet that said the company was heading towards IPO. The seven year old company, with more than 200 million active users, has already filed a confidential S-1 with the SEC (Securities and Exchange Commission) seeking the way to go ahead with an IPO, which is said to be managed by Goldman Sachs. Twitter, in fact, broke the entire news in less than 140 character tweet.<blockquote class="twitter-tweet blockquote"><p>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.</p>— Twitter (@twitter) <a href="https://twitter.com/twitter/statuses/378261932148416512">September 12, 2013</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
In terms of valuation of the company, Twitter is said that, it collects revenue from "promoted tweets" or paid ads and it is expected to have $583 million in revenue this year. But putting it altogether, the company is said to have a total valuation of $9 billion which is comparatively lesser than Facebook which is said to have a valuation of $100 billion.
Apart form the financial developments and plans of the company, those in the Twitter beta testing group received version 5.0 update recently. The new design would be a future look of Twitter on Android. The entire interface has been revamped and one can see cleaner and more minimalist design, a new slide-in menu from the left bar to manage organization and a new settings view. Tabs are on top for home, notifications, messages, activity, trending, find people and me. The app retains the same standard blue, white and gray color scheme.
More complex changes were made to the widget. However, there are no details about when it's going to come out of beta testing to a regular channel. But it is likely to be seen soon.