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All posts tagged "IPO"

  • Twitter’s IPO and what it reveals about the sublime and ridiculous nature of our capital markets

    Twitter’s IPO brings to mind Julius Caesar’s alleged description of his campaign in Britain: ‘veni, vidi, vici’, or ‘I came, I saw, I conquered’. Following the management’s successful road show targeting targeted institutional investors, demand was such that shares were 30 times oversubscribed prior to trading on the New York Stock Exchange. With the first trading day done, let us examine the IPO and what the future looks like for Twitter's investors. The initial price range was set between US$17 and US$20 per share, which translated into a very fair valuation given the current outlook. Three days before the IPO...

  • Ev scores big, Biz misses out: how much will Twitter’s big guns gain from its IPO?

    We know pretty much everything about Twitter's IPO now, from the fact that it'll float on the New York Stock Exchange to its listing price: US$26. As we've already reported, that means it'll raise around US$1.82-billion giving it a value as high as US$18-billion (based on 705-million fully diluted shares). In turn that means that some of the social network's biggest current shareholders are about to see their net worth increase pretty dramatically. Okay, there won't be a slew of new billionaires riding fixies around Silicon Valley but most of Twitter's big players will have a little extra...

  • Twitter stock soars in early trading

    If Twitter really was focused on making sure that its IPO didn't follow the same early path as Facebook's, then it must be feeling pretty good about itself right now. Shortly after going live on the New York Stock Exchange, Twitter shares were trading around the US$46 mark. That's just under 80% higher than its initial price of US$26 a share. By way of contrast, Facebook's shares plummeted almost immediately after they went live in May last year. As we reported at the time, Morgan Stanley as lead underwriters (and the others) spent billions propping up the stock price...

  • Twitter to go public at $26 a share, raising $1.82bn

    Looks like Twitter's investor roadshow has gone well. When the social network goes public, it'll do so at US$26 a share. With the company initially set to release 70-million shares, that means it'll raise US$1.82-billion from the IPO. The details, which were revealed via a tweeted announcement from the company, mean that on IPO day Twitter could have a value as high as US$18-billion (based on 705-million fully diluted shares). We just priced our IPO. pic.twitter.com/NWXaO4Myq0— Twitter (@twitter) November 6, 2013 As TechCrunch notes, the pricing is above what Twitter itself has been saying over the last little...

  • Twitter to take 70m shares to market for between $17 and $20

    The puzzle pieces of Twitter's IPO are starting to come together and form a complete picture. The latest piece of information is that the social network will take around 70-million shares to market when it lands on the New York Stock Exchange and will look to sell them for between US$17 and US$20 a pop. Twitter will sell 70 million shares at $17-20 a-piece via @BloombergNews— Emily Chang (@emilychangtv) October 24, 2013 The revelation is an important one, and not just because those are the numbers people have been curious about since Twitter formally announced its intention to go public...

  • Twitter IPO latest: will file as ‘TWTR’ on New York Stock Exchange

    We're getting increasingly close to a complete picture of what Twitter's initial public offering (IPO) will look like. The social network has filed an amendment to its S1 filing with the US Securities and Exchange Commission which reveals that it will trade on the New York Stock Exchange under the symbol "TWTR". As ZDNet points out, that may well be because it's trying to avoid the issues Facebook faced by choosing to go with the Nasdaq for its IPO. While Facebook eventually rebounded, Twitter will be especially keen to avoid the tumultuous period its rival faced to get back...

  • Twitter IPO: what you should know before buying stock

    Twitter is that little step closer to listing, with documents released yesterday. The filings reveal that the social network has 218.3-million active monthly users churning out 500-million tweets a day. It has 49-million active users in the US and 169-million international users (everyone else in other words). And as it says, since the beginning of the business, over 300-billion tweets have been created since the 21st of March 2006 when Jack Dorsey tweeted "just setting up my twttr". And if ever you wanted to know what Twitter is (a lot of people still do not understand it), here is...

  • As Twitter hurtles towards an IPO, remember… it’s not Facebook

    There’s more than a single reason for Twitter going public now, versus -- say -- in a year or two’s time. Obviously, its valuation is getting to the point where any new rounds of funding are substantial. Its most recent round, a Series G, was closed in 2011 and saw the company raise an eye-watering US$800-million at a US$8-billion valuation. Any subsequent round would pass the US$1-billion mark and be even more complex to structure. Obviously, investors -- especially early ones -- and employees want to cash out. Sure shares can be private traded on secondary markets, but Twitter has strict...

  • 9 Chinese tech companies that could go public in 2013

    2011 saw economic turmoil and financial scandals that led to only two Chinese tech companies venturing to IPO in 2012. But 2013 is looking up. This year there’s the distinct possibility of there being nine major Chinese web company IPOs, among which will be the biggest ever that China has produced. Buoyed by the solid progress of the small class of 2012 (VIPShop and YY), these are the names to look out for in the year ahead. Inspired by a longer list on QQ Tech, we’ve pruned that down to nine realistic contenders. Some of these Chinese internet companies have...

  • Twitter: still no plans for IPO

    You know when a tune gets so ingrained in your head that you recognise it instantly, even if you haven't heard it in years? That's what Twitter's stance on the possibility of an IPO is starting to feel like. In an interview with the Los Angeles Times, Twitter CEO Dick Costolo said the company still had no plans to go public: “We are going to remain private as long as we want....

  • Cheat sheet: The Facebook IPO

    Chances are, anyone in your office even remotely interested in tech or business is going to be talking about Facebook's IPO today. If you're feeling a little out in the cold, don't worry. We've got your back. Here's everything you need to know about the Facebook IPO in a nutshell. The social network’s initial public offering consists of 421 233 615 shares. Shares will start trading at US$38 apiece. Predict the closing price. There are...

  • Mark Zuckerberg greeted by standing ovation at pre-IPO hackathon [PICS]

    It’s finally here. Today is Facebook IPO day. You might think that Mark Zuckerberg would be kicking back in his hoodie and slippers. You’d be wrong. Instead, the Facebook CEO was on hand to launch the company’s 31st hackathon -- aimed at building brand new Facebook products. When Zuckerberg arrived at the marathon hacking session at Facebook HQ in Menlo Park California, he was greeted with a standing ovation. Facebook staffer Francis...

  • Why Facebook keeps romancing Wall Street in its IPO

    Facebook has added 25 banks to its IPO offering -- a massive expansion from the original six banks named. It allows the banks offer Facebook stock to their clients in special deals and spreads a lot of favors among the Wall Street investment community. In The Wall Street Journal David Benolt reported: The social networking giant has just added five more lead investment banks to its IPO from the original six, according to an updated filing. On top of that, Facebook added another 20 investment banks that will get a piece of the action. The move is the opposite to Google’s IPO,...

  • Yahoo! joins the patent wars, sets its sights on Facebook

    Yahoo! claims that Facebook is infringing on between 10 and 20 of its patents -- and if the social networking site doesn’t pay licensing fees, it will pursue legal action. According to a report by the New York Times, Yahoo! accused Facebook of using its patented technology without paying license fees in areas such as advertising, messaging, social networking and personalised webpages. Some of the technology is reportedly used in Facebook’s news feed...

  • Facebook IPO may come this week

    Facebook's long-awaited initial public offer (IPO) may come as early as this week, if media reports are to be believed. Reports that the world’s largest social network was readying itself to go public first surfaced in the Wall Street Journal. The offering is widely anticipated to raise around $10-billion for Facebook, giving it a valuation of between $75-billion and $100-billion -- a record for a company in the internet sector. By comparison,...