Jack Dorsey says Twitter 'not even thinking' IPO -- report

Jack Dorsey, who is now CEO of Square but remains on Twitter's board, told Bloomberg that the social-networking company has no immediate IPO plans.

Twitter and Square founder Jack Dorsey. Daniel Terdiman/CNET
Although there has been much speculation in recent months that Twitter is ramping up for an initial public offering, company co-founder Jack Dorsey has suggested that nothing is imminent.

In an interview with Bloomberg, Dorsey reportedly said that Twitter "is not even thinking" about an IPO at the moment.

"A lot of people think of this as a goal you have to get to but it's a milestone," Dorsey told Bloomberg during an interview in New York. "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."

There's little doubt that a Twitter IPO would be the biggest Internet public offering since Facebook's last year. However, given the poor reception that Facebook's stock has received in the months that followed -- the company will release earnings tomorrow -- it's not known how well Twitter would do as a public company.

Still, Twitter's valuation has continued to climb, with recent estimates pegging it at somewhere in the $9 billion to $11 billion range . And the company's investors are no doubt looking to cash out after putting more than a hundred million dollars into the social-networking company.

Though Dorsey is no longer active in Twitter's management , he's still on its board, and presumably has a good sense of its major strategic plans. Dick Costolo is Twitter's current CEO.

Neither Twitter nor Square immediately responded to a request for comment.

 

Join the discussion

Conversation powered by Livefyre

Don't Miss
Hot Products
Trending on CNET

HOT ON CNET

Up for a challenge?

Put yourself to the real tech test by building your own virtual-reality headset with a few household items.