No IPO For Twitter (GS)

As the hype for social media companies only continues to escalate, Twitter co-founder, Biz Stone, said it has no plans to go public anytime in the near future. Stone also said that Twitter wishes to remain independent and that it is not even discussing an IPO prospect internally, according to the article. As social media giant Facebook received $1.5 billion in financing from Goldman Sachs GS and is planning for its IPO, similar plans were expected from other social media sites, including Twitter. Rumors circulated that JP Morgan Chase JPM was working with Twitter to buy 10% of the company for $450 million, making its valuation $4.5 billion (compared with Facebook’s $50 million valuation).