Twitter's Making Money, Delaying IPO
LONDON - JULY 02: In this photo illustration the Twitter website is displayed on a mobile phone on July 2, 2009 in London. The social network site, started in 2006 in California as a sideline project, has grown into a global brand becoming one of the fastest growing phenomenas of the Internet. (Photo by Peter Macdiarmid/Getty Images)
Updated at 6:06 AM PDT on Friday, Mar 4, 2011
Twitter has no plans to go IPO this year and the reason might surprise some.
The San Francisco-based microblogging site's co-founder Biz Stone says his company will not go public this year because it is making money.
Speaking at a business forum in Seoul, South Korea, Stone told Reuters that Twitter is not even discussing the possibility of going public internally.
Stone said his company may not even need to raise more investment money this year. Twitter, whose current valuation is around $3.7 billion, raised $200 million worth of funding in December and another $80 million last month.
Published at 3:12 PM PDT on Mar 3, 2011