Twitter co-founder: Don't hold out for an IPO any time soon

Summary:The microblogging service isn't going to throw itself on the stock market any time soon, Twitter's co-founder said in an interview.

Unlike its nearest counterpart Facebook, which filed for an initial public offering (IPO) on the Nasdaq last year, Twitter isn't going to follow in its footsteps any time soon.

In an interview with Bloomberg, Twitter co-founder Jack Dorsey, who now runs Square but remains on Twitter's board, said flat out that the microblogging service will not hit the stock market for now.

However, while Dorsey said that Twitter "is not even thinking" about floating the company on the stock market any time soon, he didn't rule out any such moves in the future.

"A lot of people think of this as a goal you have to get to but it’s a milestone," he told the publication, adding: "If you think about it as a goal you’re rushing towards it and then stop, and that’s not the way to build a timeless company."

Twitter is valued around the $9-11 billion mark. It's not clear exactly how much Twitter would be worth until it (eventually, although far from necessarily) hits the stock market.

But Dorsey told the publication that there are lessons to be learned from post-IPO flops, not limited to Zynga, Groupon and LinkedIn — and of course Facebook, which lost about one-third of its value in the weeks following its launch on the Nasdaq.

Given this, it would still be a major IPO — if not the next largest if not most significant IPO since Facebook debuted mid-last year — but it's not known how well the company would fare on the market, sans strong and stable revenue stream.

While it doesn't have the financial guts that Facebook does, it nevertheless has helped play a significant if not vital role in significant events in recent years — not limited to the Arab Spring and the reporting of some of the most major news stories in decades.

Topics: Social Enterprise, Cloud

About

Zack Whittaker writes for ZDNet, CNET, and CBS News. He is based in New York City.

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