But the crowd-sourced information of today's Twitter has also proved problematic.
Even as the New York City Fire Department used Twitter to communicate with residents during Hurricane Sandy, there were pranksters who spread misinformation on the service, including a rumor that the New York Stock Exchange was submerged underwater.
And in the wake of the Boston Marathon bombing, the name of a missing Brown University student went viral on Twitter after many users, including journalists, mistakenly identified him as a suspect.
Twitter, for its part, has maintained a strictly hands-off attitude toward monitoring its content and denied responsibility for ensuring its accuracy.
Earlier this month, Twitter filed with regulators for an initial public offering. Reuters reported last week that Twitter was in talks looking to add additional banks to its underwriting syndicate.
(Reporting by Gerry Shih)
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