Twitter goes public at $US45 a share

Actor Patrick Stewart rings opening bell, as Twitter tweets '#Ring!'

Twitter is now a publicly traded company, opening at a price of $45.10 a share, 73 per cent higher than its initial IPO price.

The micro-blogging company became the latest social network to launch an initial public offering, as traders spent the morning getting ready to begin trading the company's stock.

The company begin trading under the stock symbol TWTR on the New York Stock Exchange.

For Twitter, as well as for the social networking world, the IPO will be a milestone and a bellwether. Facebook, the largest social network in the world, had a troubled IPO disappointing IPO launch last year.

Now all eyes are on Twitter, a company that has yet to make a profit, to see if the company has charmed Wall Street, creating investor enthusiasm and pulled off a successful trading debut.

Late yesterday, Twitter closed its books and priced 70 million shares at $26. That values Twitter at $14.1 billion, though that number could climb if underwriters pull more optional shares in for trading.

Financial analysts earlier today said the Twitter's shares would start trading at $US44 to $US45.

Most thought a Twitter executive, like CEO Dick Costolo or co-founder Biz Stone, might ring the bell to begin trading on the New York Stock Exchange. Twitter, however, handed that illustrious job over to Patrick Stewart, the actor most famous for portraying Captain Jean Luc Picard in the Star Trek - Next Generation TV series.

To mark the occasion, Twitter tweeted, "#Ring!"

With Twitter poised to be flush with new cash, industry analysts are turning their attention t o how company executives might use the money.

While some analysts say Twitter will build up its infrastructure and invest in mobile and video technologies, they also say this influx of money also means that Twitter will become an even tougher competitor for Facebook, Instagram and Google+.

Twitter CEO, Dick Costolo, in an an interview on CNBC this morning, said he was please with the IPO launch. "I really wouldn't change anything about the way we've approached the process this time," he said. "I think that the team has just done a tremendous job preparing... for everything we were going to go through, and being thoughtful, and methodical about everything we've done along the way."

He also sight to calm concerns that Twitter has not yet made a profit.

"Well, I'll start off by saying there's nothing structural about Twitter that prevents us from having the kind of margin profiles of our peer group," Costolo said. "We have a significant number of investments we want to make as we move down that path, investments in our distributed platform, investment in our Twitter and TV strategy... We will continue to make those investments in the growth of the core business for the foreseeable future."

This article, Twitter goes public at $45 a share , was originally published at Computerworld.com.

Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at @sgaudin, on Google+ or subscribe to Sharon's RSS feed. Her email address is sgaudin@computerworld.com.

See more by Sharon Gaudin on Computerworld.com.

Read more about social media in Computerworld's Social Media Topic Center.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

3 skills you need to drive better collaboration

A study published in The Harvard Business Review found the time spent in collaborative activities at work has increased by over 50 per cent in the past two decades. Larger projects; complicated problems; tighter timeframes: These require bigger teams with specialised skillsets and diverse backgrounds, often dispersed globally.

Jen Jackson

CEO, Everyday Massive

Better the bank you know?

In 2018, only 21 per cent of customers believed that banks in general had their customers best interests at heart and behave ethically. Only 26 per cent believed that banks will keep their promises; views cemented further following the Hayne Financial Services Royal Commission.

Carolyn Pitt

Head of account management, Hulsbosch

What 15 years of emotional intelligence told us about youth media audiences

Taking people on an emotional journey through content is the most critical part of being a publisher. Which is why emotion lies at the heart of VICE Media.

Stephanie Winkler

Head of insights, VICE Asia-Pacific

That's an interesting use for biometrics, to actually assist in predictive analysis of campaign success.

Simon Smith

Facial recognition technology being used in a new out-of-home campaign

Read more

This journey would identify all your future life aspects!

Maryann Humphrey

Open Colleges: one-to-one journeys is the goal

Read more

It's a pretty good idea. I think this integration is useful. Don't you agree?

Misty Stoll

Officeworks hops on voice interface bandwagon with Google Assistant integration

Read more

ok. so no RCS support? by the way, RCS is a lot bigger than 5G in terms of marketing and monetisation so y'all should be covering it.

DragoCubed

Optus goes for education with 5G network campaign

Read more

Many companies and individual merchants have shifted their major part of marketing to web marketing services Portland as it weighs fewer ...

Radiata Solutions

6 Ways to ramp up Social Media to Your Web Design

Read more

Latest Podcast

More podcasts

Sign in