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Breakingviews: Following Twitter's IPO

Friday, Sep 13, 2013 - 03:20

Sept. 13 - There's not much to know yet about Twitter's plan to sell shares to the public, but Breakingviews editors discuss what to keep an eye on when the prospectus is disclosed.

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It's a Twitter is ready to go public. But so far there's little more than a 140 characters were the information to know about the the prospectus. Filing anything about it because they're using. The new jobs act to go public. But what this does is it means that the SEC will get to edit things. Critical back to them without everybody knows the building will be made public and you're saying is that things we should. Well I don't resiliency has a weakness that 135 connect tweet Twitter didn't even have to put out but put out this statement saying we filed. For an IPO confidentially and this anemic at them within. You know a few weeks of actually -- public they have to release everything so pressed to become public final flights to and particularly what -- -- -- exit polls say about that area so we've seen a few things with other tech companies take care FaceBook for instance the SEC. Made them put in I think pretty late in the process of big. Risk factor about my values now face because tennis since -- -- out my about a little bit but at the time -- sort of has liberty -- respect our -- it may be ahead of the curve but that's you know -- about this is that -- how you make money out of my vote and that's to -- customers as -- right. Some other respects is of course important that's governance questions in multiple -- Themselves if somebody -- to well against come operated -- other niceties -- that's because they had this new metric it was profit without any of the bad stuff made -- -- fantastic it was -- -- profit excluding expenses -- -- -- the -- -- revenue. But for the but really SEC's. Value out of its focus on the -- -- -- he also had some other questions about how they account for of their growth -- -- that okay. Well actually you know some of those users you say well actually they kind of lazy he can't count them. And and other sorts of the basic fundamental questions. The problem is you need oil companies going out there putting out information gets stuck in the public's mind Nancy cius can't you can't say that. Meanwhile the public that's okay they're great companies are profitable and and in the case of group conferences plus I've cause I'm -- one of -- that big requires so much hype around a couple of like this -- public. Whether it's FaceBook credits and it's a brand that so many people know retail investors took me. Lose sight of some of these more important kind of having their technical but they are really fundamental to the. The -- and it becomes a retailer best -- end -- you know always whenever the process evilness of noble process that is Google did. Residential treatment in the end the retailer best is -- price takers really say they've they've they'll get a live with whatever prices set by the hype and the placement people you know people just need to look at. -- cancel it. As the hype from the company itself -- -- because we've seen in the past. Some of these tech companies. We even going back through Google. The CEOs don't like that -- -- play by the rules which -- kind of say what I wanna say for instance they had the interview in Playboy -- they had actually postpone it the idea. And Groupon again tonight here on they had seen this chairman and the -- of both opening comment the company had to say it actually does. We don't actually abide by those words. -- and we don't -- we don't endorse those who are expect are probably plenty to look for what we actually get a perspective from Twitter. We'll be back with more breaking news on Monday.

Breakingviews: Following Twitter's IPO

Friday, Sep 13, 2013 - 03:20

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