Twitter files for IPO

Twitter logo is displayed at the entrance of Twitter headquarters in San Francisco, Calif.

UPDATED, Oct. 3, 2013, 5:15 p.m. PT: Twitter publicly filed its IPO documents today, hoping to raise $1 billion in the largest Silicon Valley IPO since Facebook in 2012.

The IPO documents were made public on the Securities and Exchange Commission web site today, and in the documents we learned that the company intends to trade under the ticket symbol "TWTR". But, in one of the most-closely watched decisions, Twitter declined to select an exchange: Either the Nasdaq or the NYSE.

There's been talk for months about whether the popular micro-blogging site would go public. But Twitter's filing was a bit unconventional.

The company filed for an initial public offering of stock with the help of a provision in the JOBS Act. Zach Seward, senior editor at Quartz, joined Marketplace Tech host Ben Johnson last week to discuss. 

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Ben Johnson is the host of Marketplace Tech.

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