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As of a few moments ago, Twitter has confirmed the previous rumors of an IPO. This should be of no surprise since to this date Twitter has taken $1.16 billion in funding and investors are no doubt looking to get their money back at a very nice premium.

Twitter was first created in March of 2006, and 5-7 years is about as long as anyone wants to wait when pitching in cash for any new startup. At this point owners will be looking to take money off the table, but it also means the end of a closed era for Twitter.

Once the company goes public they will be required to publish a lot more information about their revenues, plans and partnerships.

Many potential investors will be wary, recalling the disappointing performance of the once hyped Facebook IPO which netted Zuckerberg and Co. a lot of cash, but left investors out in the cold.

Facebook IPO

It took a year for Facebook stock to recover to its opening price, so it will be interesting to see how Twitter performs when launched.

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John P. is CEO of Livid Lobster and co-host of Geek Beat TV. You can also find him on Twitter and Google+.