Time not ripe for Twitter IPO, says CEO

New York - Twitter is not readying for an initial public offering nor is it seeking to be sold to another group, chief executive Dick Costolo said on Wednesday.

In an interview on the financial network CNBC, Costolo brushed aside any suggestion of an imminent initial public offering (IPO) or sale.

The question of an IPO is "a decision we'll make when we think the time is right for us," he said.

Asked whether Twitter might be sold to another firm, Costolo commented: "We'll be a successful, independent company."

Twitter, which allows its members to post brief comments, links or pictures, claims to have more than 140 million active users, with the largest number being in the United States.

A recent survey found one in seven Americans who go online use Twitter and 8% do so every day.

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