Twitter’s initial public offering could be the biggest for a consumer web company since Facebook. But executives have so far declined to say when it might happen, and co-founder Jack Dorsey said the company is “not even thinking about it” right now.
“A lot of people think of this as a goal you have to get to but it’s a milestone,” he said on a bench outside a Manhattan café. “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 was valued at about $9 billion after early employees sold $80 million in shares to a fund managed by BlackRock Inc., three people with knowledge of the matter said earlier this year. Twitter expects to generate at least $1 billion in sales in 2014, two people familiar said in June.
It’s been almost a year since the May 17 market debut of Facebook, which has lost about a third of its value since. Dorsey said there are lessons to be learned from that IPO and those of LinkedIn, Zynga, Groupon and Yelp.
But “it’s going to be different for every single company,” he said.