Twitter has no plans to go public and the JP Morgan investment story is made up

Reuters is reporting Biz Stone, co-founder of Twitter,  as saying that Twitter has no plans to go public any time soon and does not need additional funds.

The conversation took place at a business forum in Seoul when Stone was asked about the prospects of an IPO. Stone also dismissed speculation that JPMorgan Chase & Co was in talks with Twitter to buy a 10 percent stake for $450 million, saying the story was “made up”. this would have valueed the company at $4.5 billion.

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USA, San Francisco