Twitter Inc. is generating a lot of hype on Wall Street today, as investors get set for the upcoming IPO. Citing sources who had “knowledge of the matter,” Bloomberg says the IPO has generated more than enough interest to cover the shares to be released into the market.

According to the report, the banks who are managing the IPO have noted that interest in the shares began even before they began accepting orders for them. The source asked not to have their name revealed because the information is considered private. According to the regulatory filings, the social networking site will be releasing 70 million shares for $17 to $20 per share. Many people feel this price is far below what the company is actually worth, as we reported earlier this week.

Twitter Attempting To Avoid Facebook IPO Situation

Twitter Inc. (NYSE:TWTR) is seeking to prevent its stock from following the same path as Facebook Inc. (NASDAQ:FB) did in 2012 with its ill-fated IPO. The company is setting its IPO value at $1.4 billion on the top end, while Facebook’s IPO valuation was around $16 billion.

Twitter has managed to catch the eye of investors around the world, and provided shares don’t slide the way that Facebook’s stock did when technical glitches at the Nasdaq stock exchange muddled the IPO.

Final Valuation

At the top end of the current price range, Twitter Inc. (NYSE:TWTR) will be valued at $10.9 billion, which is no small chunk of change. The company has attracted a strong following of interested parties, even though the top management has yet to announce a break even plan.

The normal process for launching an IPO in the U.S. is that company leaders spend a week or two meeting with potential investors while bankers take orders for shares. This will end with final pricing of the shares just before they go on the public market. Twitter’s CEO, Dick Costolo, has been on the investment trail, visiting major U.S. cities and building interest in the company.

Goldman Sachs Group Inc. is collaborating with Morgan Stanley and JPMorgan Chase & Co. on the IPO.