Twitter has confirmed that it has filed a proposal to sell shares in the company on the stock market.
The social network announced the move in a tweet saying, “We’ve confidentially submitted an S-1 to the SEC [US Securities and Exchange Commission] for a planned IPO. This Tweet does not constitute an offer of any securities for sale.”
According to the Financial Times, speculation in Silicon Valley places Twitter's valuation as high as $15 billion - althought it was valued at $10 billion in private transactions earlier this year.
The FT suggests that the timing of the announced could point to a launch on the public market before the end of 2013.