Goldman lands lead role on Twitter IPO

Goldman Sachs, on pace to be the top adviser on U.S. initial public offerings for the first time since 2009, scored a coup by landing the lead role on Twitter Inc.’s sale.

Bloomberg News reports that Twitter, which announced yesterday that it filed for an IPO, gave Goldman Sachs the job of running the sale, a person with knowledge of the matter said.

Twitter is likely to appoint other banks on the offering.

Goldman Sachs lost out to rival Morgan Stanley on similar roles in the highest-profile technology IPOs in recent years, including Facebook Inc's $16 billion sale last year and offerings by Groupon Inc. and Zynga Inc. the year before.

San Francisco-based Twitter may have opted for Goldman Sachs after the other offerings drew criticism and complaints from shareholders, according to Michael Holland of Holland & Co.

Facebook, Zynga and Groupon each declined by more than half in the months following their offerings, data compiled by Bloomberg show. Disappointing performance by Facebook following its offering helped to freeze the U.S.

IPO market for more than a month and led to shareholder complaints over the valuation of the offering.

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