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Twitter's Tweetdeck must 'file accounts or be struck off'

Failure to file finances puts outfit in hot water - report

Internet Security Threat Report 2014

Tweetdeck Ltd could be closed down after repeatedly failing to file its financial accounts with the UK's Companies House, Sky News is reporting.

The Blighty-based outfit - which bills itself as "an app that brings more flexibility and insight to power users" - was bought by US social media firm Twitter in May 2011 for $40m. It now faces "compulsory strike-off action" that could apparently lead to Tweetdeck being "dissolved" or removed from the official register of businesses in the UK.

The UK-based subsidiary of San Francisco-based Twitter Inc missed two financial accounts deadlines in September and December last year and was subsequently fined £375 each time for the cock-up by the regulator.

"TweetDeck is still yet to file. That means they have 99 days to file up-to-date accounts or face being dissolved and struck-off the register," a spokesperson at Companies House told Sky News.

Financials missing in action, Companies House shows

Multimillionaire Iain Dodsworth, who founded Tweetdeck in 2008, quit the company immediately after Twitter bought the firm in 2011. However, records show that no business accounts have been filed with Companies House since Dodsworth's departure.

It has been reported that privately held Twitter is preparing to float the company on Wall Street in 2014 in what could be a $11bn IPO. Twitter UK Ltd, the UK wing of Twitter Inc, also recently embarrassed the parent company by failing to lodge its financial filings for the second half of 2011 with Companies House.

Twitter UK finally filed its accounts last week, when it reported slender profits of £16,500 on a total income of £484,723. ®

Internet Security Threat Report 2014

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