The microblogging site had posted on its official Twitter account that it is filing for an IPO, confidentially. Companies getting under $1 billion revenue can file for IPOs confidentially under the JOBS Act.

From their Twitter account, https://twitter.com/twitter/

Twitter had previously acquired MoPub, a mobile ad exchange and publish network and hired a new CFO which were signs back then that the seven-year-old company is on its way to filing its IPO. But this IPO of this social networking site has been long overdue.

Twitter's public offering might be lower compared to Facebook's IPO last year, but it has retained its cultural value and market niche. The IPO is seen as a step to improve Twitter's financial value, generate revenues, and get enough funds to expand its operations.

In a report by CNN Money, the IPO of Twitter will not come in 2014 but in a few weeks from now. Twitter is said to be a "2013 offering" not an expected "2014 offering."

Goldman Sachs has been reported by Wall Street Journal as the lead arranger. Some sources of GIGAOM, which are close to Twitter has revealed that hedge fund companies has been offering to buy shares for $26 to $28 a share which results to a whopping $14 billion value for Twitter.

Reactions from the Social Media are varied:

Some users had positive remarks with the Twitter's IPO but some were unhappy. The negative reactions were rooted from what had happened to Facebook. They had noted that Facebook went from a social networking site to an advertising filled site and people were not keen on seeing it in Twitter.

However, despite the different reactions, some are still keen on investing in the social networking site.

Last year Facebook had a record of $16-billion IPO but the reception was not good, which served as a warning to the stock investors in investing social media sites. The same fortune was also received last year by internet-based business, Zynga and Groupon, whose stocks plummeted last year. On the other hand, LinkedIn has a different fate with its stocks rising aggressively now valued at within the range of $257.64 to $257.66 this week.

But now things are looking better for these businesses, Facebook is up by 88% with its rate on Thursday at $45.62, Groupon is up by 69% and Zynga is up by a shy 7.1%. Users are hopeful that Twitter will not suffer the same drought that these companies faced last year.