Dick Costolo Tells Twitter's Rank And File, We're Not IPOing For Years, We Need To Get Better Earnings

Dick Costolo Web 2.0 stage

Twitter CEO Dick Costolo told Twitter employees he doesn’t think the company will be ready to IPO for years.

He explained his reasoning in an internal email obtained by CNN Money, saying, “We don’t want to be public until we have very predictable quarterly earnings growth … We’re not ready to be a public company for a couple years.”

To keep Twitter’s earnings results private, the company can’t be owned by more than 500 shareholders, so Twitter is limiting stock sales. This has irritated some employees who want to cash out their shares.

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