Twitter Inc. files papers for initial public offering


NEW YORK — Twitter Inc. said it filed for an initial public offering with the U.S. Securities and Exchange Commission, in what would be the most highly anticipated offering since Facebook Inc.

The short messaging service tweeted Thursday that it had filed confidential documents for an initial public offering of stock.

Twitter’s IPO has long been expected. The company has been ramping up its advertising products and working to boost ad revenue in preparation.

Twitter was valued last month at about $10.5 billion by GSV Capital Corp., one of its investors. Facebook, which raised $16 billion last year, has a market value of about $109 billion