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.
Hit the link below to access the complete efinancial careers article:
image: © Howard Lake