Twitter takes first step toward going public

GOING PUBLIC: Twitter Inc has filed for an initial public offering with US regulators, the company said on Thursday, taking the first step toward what would be Silicon Valley's most anticipated debut since Facebook Inc's last year.

SAN FRANCISCO/NEW YORK: Twitter Inc has filed for an initial public offering with US regulators, the company said on Thursday, taking the first step toward what would be Silicon Valley's most anticipated debut since Facebook Inc's last year. 

The impending IPO of the microblogging phenomenon ignited a competition among Wall Street's biggest names for the prestige of managing its coming-out party. Goldman Sachs is lead underwriter, a source familiar with the matter said on Thursday, which is a major coup for the Wall Street bank.