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market movers

Twitter Flies High on Better Than Expected IPO Debut

Posted by Sheila Shayon on November 7, 2013 05:56 PM

Twitter made a strong public stock debut this morning in what was the most anticipated IPO since Facebook's 2012 bid. Unlike its rival's glitch-riddled debut on NASDAQ, Twitter’s coming out party under ticker symbol "TWTR" on the New York Stock Exchange Euronext went better than expected.

Twitter's stock opened at $45.10—73 percent above its $26 IPO price—valuing the microblogger at more than $31 billion based on its outstanding stock, options and restricted stock that will be available after the IPO. Shares traded at a high of $50.09, and closed at $44.90. The narrow price range indicated that people felt it was "pretty fairly priced," JJ Kinahan, chief strategist at TD Ameritrade, told the Associated Press, while the stock's immediate surge "clearly shows that demand exceeds the supply of shares," commented Wedbush analyst Michael Pachter.

With a user base of 232 million and 500 million tweets sent daily, the social service that changed communication looks like it's here to stay.

But while Twitter's debut went "pretty flawlessly" and was "pretty fair priced," according to TD Ameritrade strategist JJ Kinahan, some are saying the internet company could have made a lot more money had it sold more shares for a higher price. All in all, selling 70 million shares $26 per share, Twitter raised about $1.8 billion, while Facebook, despite its first-day flop, raised $16 billion. That gives Facebook a significant advantage over rivals when it comes to acquisitions and operational costs, Mashable notes. But from the start, it seemed like Twitter was looking to make its IPO the anti-Facebook.Continue reading...

social media watch

Can the Blue Bird Fly Over the Rainbow?

Posted by Sheila Shayon on July 21, 2011 05:00 PM

Twitter is closing in on an $800 million funding deal, $400 million of which will be used to cash out current investors and employees.

Aside from additional revenue, the move will allow current stakeholders to monetize privately held common stock, as the company will probably not file for an IPO in the immediate future.

“Once the latest investments are complete, Twitter’s total cash haul since it was founded five years ago will be $760 million,” according to AllThingsD.

Current investors Benchmark Capital, Union Square Ventures, Spark Capital, and other venture capitalists will be joined, going forward, by Russian heavyweight DST Global, an investor in Facebook, Zynga and Groupon. Continue reading...

web watch

Twitter Founders Take Obvious Next Step

Posted by Sheila Shayon on June 29, 2011 04:00 PM

Biz Stone, Evan Williams and Jason Goldman, three key developers of Twitter, are now devoting their energies to Obvious — a startup that (Obviously) has a Twitter feed.

The startup's website states: “The Obvious Corporation makes systems that help people work together to improve the world. The proliferation of technology can seem superfluous, but with the right approach, technology can benefit individuals, organizations, and society. We are relaunching the company that originally incubated Twitter with a high level of commitment to making a difference and developing products that matter.”Continue reading...

social marketing

Eventful Turns Fans Into Entertainment Bookers

Posted by Sheila Shayon on May 27, 2011 04:00 PM

While mega-platforms Facebook, Foursquare and Twitter dominate social media, there’s one startup — the San Diego-based event marketing firm, Eventful — that is betting the farm on smaller, highly focused social communities coming together around common interests via their “Demand it!” platform.

“The Demand it! service is unique because it serves as a direct bridge between social media engagement/impressions and actual consumer buying decisions (i.e. commerce). We answer the question, 'What should we go do tonight?' and drive commerce around that,” Jordan Glazier, President and CEO told brandchannel. “We put consumers in control of influencing, shaping, and determining the outcome of entertainment experiences.”

A pedigreed group of Silicon Valley heavyweight investors are supporting Eventful's growth, including eBay founder Pierre Omidyar, Twitter co-founder Evan Williams, Zynga founder Mark Pincus, entrepreneur Esther Dyson, global telecommunications giant Telefónica, and VC firms Draper, Fisher, Jurvetson and Bay Partners.Continue reading...

social media watch

Twitter Turns Five

Posted by Shirley Brady on March 21, 2011 09:30 AM

Twitter celebrated turning five today with a segment on ABC's Good Morning America and a video, above, that highlights the reasons why a cross-section of users (including Richard Branson, Snoop Dogg, Hillary Clinton, Martha Stewart, Serena Williams) are fans of the micromessaging social service.

tech champs

Statistics Indicate Twitter Isn't Going Anywhere But Up

Posted by Ben Berkon on February 10, 2010 04:22 PM

Apparently, people haven’t tired of Twitter.

According to Royal Pingdom, the social networking juggernaut had more than 1.2 billion tweets in January, which marks the most tweets in Twitter history. Considering CNN ran an article in late January on how tweets have dwindled since August 2009, Twitter’s resurgence has taken many by surprise. But not Evan Williams, Twitter's CEO.

Just last month Williams tweeted: “Across all metrics […], yesterday was Twitter’s highest-usage day ever (and today will be bigger).” Williams, not surprisingly, is confident that the volume of tweets will increase throughout the month of January and all of 2010.Continue reading...

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