All the latest UK technology news, reviews and analysis


Twitter explodes onto the stock exchange valued at $31bn

07 Nov 2013
Twitter Money

Twitter has arrived on the New York Stock Exchange, making an instant impression with rocketing share prices. Its first day of trading opened at $45.10 per share, significantly up from the low bar of $26 that Twitter set during the build-up to its initial public offering (IPO). The firm is now valued at around $31bn (£19.2bn).

Twitter's stock went on sale at 10.50am local time in New York, with the traditional bell ringing conducted by actor Sir Patrick Stewart. As with any stock market listing, Twitter's price will fluctuate and the firm's true stock market value will not be fully clear for quite some time.

Today's listing will be watched closely, as Twitter becomes a more transparent business, with its profits and losses exposed to analysts, investors and the wider world. Twitter is yet to make a profit, while it posted a $64.6m loss in the first half of 2013.

In its favour, however, is its expanding user base of 232 million people who send 500 million tweets every day. An inherently mobile company, Twitter generates 65 percent of its advertising revenue from mobile users, which will please investors who see smartphone and tablet-based usage of web services as the future.

Comparisons will be made to Facebook's IPO in May last year. The firm's share price peaked at $45 on its opening day - which was riddled with technical problems - but fell significantly and did not reach those levels again until September 2013.

Further revenue is likely to be secured as TV companies from around the world latch on to Twitter as the go-to destination for live TV discussion, and launch their own platforms and advertising campaigns instead of just piggy-backing on Twitter's free service.

Twitter co-founder Jack Dorsey tweeted:

  • Comment  
  • Tweet  
  • Google plus  
  • Facebook  
  • LinkedIn  
  • Stumble Upon  
Michael Passingham
About

Michael Passingham joined V3 as a reporter in June 2013. Prior to working at V3, Michael spent time at computing magazine PC Pro. Michael covers IT skills, social media, tech startups and also produces V3's video content.

View Michael's Google+ profile

More on Social Networking
What do you think?
blog comments powered by Disqus
Poll

IT curriculum poll

With coding now compulsory in schools, how important are digital skills for the next generation of school leavers?
63%
8%
20%
9%

Popular Threads

Powered by Disqus
V3 Security Summit

V3 Security Summit Day 2: Botnet, skills and BYOD intelligence incoming

Keep V3 bookmarked for news updates on all the key security concerns and topics facing businesses

Updating your subscription status Loading
Newsletters

Get the latest news (daily or weekly) direct to your inbox with V3 newsletters.

newsletter sign-up button
hpv3may

Getting started with virtualisation

Virtualisation can help you reduce costs, improve application availability, and simplify IT
management. However, getting started can be challenging

ibmv3may

Converting big data and analytics insights into results

Successful leaders are infusing analytics throughout their organisations to drive smarter decisions, enable faster actions and optimise outcomes

Quality and Test Engineer

Quality and Test Engineer | Agile, Automation, SaaS Web...

Salesforce.com Project Manager - Confectionary Company- London

Salesforce.com Project Manager - Confectionary Company...

User Experience Director - Bangkok

Are you passionate about creating digital experiences...

Project Manager IS / IT

Project Manager required for a fast growing Global Software...
To send to more than one email address, simply separate each address with a comma.