Twitter has submitted preliminary paperwork for an IPO in the coming weeks, the company let slip Thursday.
Outside analysts pegged Twitter's valuation at around $10 billion earlier this year. At the risk of understatement, that's pretty good for its investors, who have poured some $1.16 billion into the company since its inception.
Twitter's confidential filing takes advantage of the JOBS Act, which allows companies to submit their IPO documents secretly if they make less than $1 billion a year.
Will Twitter have the first S-1 in history that is 140 characters? No way, lawyers wouldn't stand for it. (Words are $)
— Jessica Guynn (@jguynn) September 12, 2013
The company has been buying up other firms like crazy lately — eight startups this year alone, more than any other year in its history.