Twitter Keeps IPO Comms In-house
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Twitter Keeps IPO Comms In-house

Holmes Report

Unlike many high-profile tech IPOs, Twitter is managing the communications around its upcoming public offering entirely in-house, according to sources familiar with the deal.

The in-house team is handling matters that include drafting portions of its S-1 filing (which has been called-out for its straight-forward tone); publicizing the filing news - which included Tweets announcing the confidential and public S-1 filings -- and working with media on inbound requests for information. Sources say, given that Twitter is currently in its SEC-mandated quiet period, this largely includes directing media to appropriate sections of the S-1 that totals more than 160 pages.

More commonly, tech companies have engaged high-profile financial communications firms during this period. For instance, it is understood that Facebook retained Brunswick, Groupon contracted with Sard Verbinnen & Co., and AVG worked with Kekst & Co when filing their IPOs.

According to sources, Twitter opted to keep its IPO comms internal because it believes an in-house team would have a more thorough understanding of the business. Since Gabriel Stricker joined Twitter in 2012 as head of comms, the company has largely eschewed agency relationships opting to keep most communications in-house. Earlier this year, Stricker's role expanded to include consumer marketing with an eye towards gaining one billion users.

No date has been set for Twitter’s IPO, however, under SEC terms the company can begin its road show to investors this Friday, meaning it’s possible the IPO could happen before Thanksgiving.

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