04 Mar '11, 4am

No IPO plans yet: Twitter

Twitter has no plans to go public any time soon and does not need additional funds because it is making money, the co-founder of the popular microblogging site said. "We have so many other things before we even think about that," Mr Biz Stone told Reuters at a forum in Seoul on yesterday when asked about the prospects of an IPO. "We are not even discussing it internally. It's too far off," he said, adding that Twitter had no plans to raise funds over the next 12 months. Mr Stone also dismissed a Financial Times report that JPMorgan Chase was in talks with Twitter to buy a 10-per-cent stake for US$450 million (S$570 million), which would value the company at US$4.5 billion. REUTERS

Full article: http://www.todayonline.com/Business/EDC110304-0000451/No-...

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