(Washington, DC) -- Twitter is going public.

The microblogging service has filed paperwork with the SEC that outlines its plans for an IPO. It's boasting 200 million monthly active users who make half a billion tweets per day.

It also says revenue has nearly doubled from 2011 to 2012 while net loss has decreased by nearly 40 percent. Twitter hopes to raise $1 billion with the initial public offering. It intends to list stock under the symbol TWTR.