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Updated 8:48am PT

Staying far away from Facebook, Twitter is likely to go public on the New York Stock Exchange in a $1.5 billion IPO, reports say.

The social media company filed to go public and announced its decision on, surprise, Twitter earlier this month. It filed to keep all of the details of the IPO a secret, however, taking advantage of the Jobs Act, but the Street’s sources now say that the company will IPO for $1.5 billion, selling up to 55 million shares at around $28-$30 a share.

The sources note that these financials fluctuate during the decision-making process and could change before the IPO happens.

Analyst companies such as PrivCo predict Twitter will have a $15 billion IPO and both PrivCo and eMarketer suggest that Twitter will make over $500 million in revenue this year.

Under the Jobs Act, companies that make less than $1 billion in revenue can file confidentially. This is good for those companies as it allows them to court underwriters in secret — away from the scrutiny of the press and analysts.

This is very different from Facebook’s 2012 IPO, which was much flashier, riddled with excitement and roadshow drama throughout. And it didn’t end on IPO day. NASDAQ, Facebook’s chosen stock exchange, glitched the morning the social network was set to go public and delayed the event a half hour.

Twitter’s not having any of that.

The company is rumored to have chosen the New York Stock Exchange for its debut day, according to The Street’s sources, keeping a safe distance from comparisons to Facebook’s IPO. CNBC is reporting that the New York Stock Exchange decision is not final, but could be a big spit in the eye for Nasdaq.


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