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INTERNET SPACE
Twitter marked by rapid rise since launch
by Staff Writers
San Francisco (AFP) Oct 03, 2013


As Twitter goes public, a look at other tech IPOs
San Francisco (AFP) Oct 03, 2013 - Twitter, which on Thursday disclosed its plans to go public, is the latest US technology company to test the waters on Wall Street.

Here is a look at the fortunes of some other notable tech companies which have conducted initial public offerings over the past two years:

FACEBOOK

The social network started by Mark Zuckerberg, which now has more than 1.1 billion users around the globe, had a rocky debut after it went public at $38 a share in May 2012 with a valuation of $16 billion.

Facebook shares fell below $20 over the past year and only climbed back over their offer price in July. Facebook shares closed at $49.18 on Thursday, boosted recently by reports that mobile advertising revenue is on the rise.

LINKEDIN

The social network for professionals and job-hunters, LinkedIn has been one of the biggest stars of the technology sector since turning to Wall Street in May 2011.

Shares of LinkedIn more than doubled from their offer price of $45 on the first day of trading. LinkedIn, launched in 2003, closed at $245.07 on Thursday.

GROUPON

Online daily deals sensation Groupon went public in November 2011, raising $700 million in what at the time was the biggest initial public offering by an Internet company since Google.

But the Chicago-based company, which was listed on the Nasdaq at $20, has struggled since then and its share price closed at $11.30 on Thursday. Founder Andrew Mason was fired as chief executive of the company in February amid sluggish growth.

YELP

Shares of restaurant and business review website Yelp have soared since the San Francisco-based company went public in March 2012 with a $15 initial public offering price.

Yelp shares closed at $71.02 on the New York Stock Exchange on Thursday. Yelp, founded in 2004, offers user-generated reviews of service businesses by city across the United States, Canada and western Europe.

PANDORA

Internet radio Pandora made its Wall Street debut in June 2011, raising $235 million with stock priced at $16 a share.

Pandora, which creates personalized radio stations for users based upon their favorite artists or songs, traded below its offer price until recently but closed at $26.44 on Thursday.

ZYNGA

Online gamemaker Zynga was valued at $7 billion when it made its play on the stock market in December 2011.

But the company behind Facebook games such as FarmVille and Mafia Wars has been on a losing streak since then. Zynga shares, which were offered at $10, closed at $3.67 on Thursday.

Twitter, which Thursday revealed its plans to go public, came to life on March 21, 2006 when co-founder Jack Dorsey's account (@jack) automatically sent out the first tweet, which read: "just setting up my twttr."

Dorsey followed it up with the first "human-generated" tweet: "inviting coworkers." More than 170 billion tweets have since gone out worldwide. Twitter said on Thursday that it had 218 million active users, as of June.

Some facts about a global phenomenon:

- Justin Bieber (@justinbieber) has the most followers with 45,366,914 as of 2200 GMT Thursday, followed by Katy Perry (@katyperry) with 44,122,303 and Lady Gaga (@ladygaga) with 40,229,059.

- US President Barack Obama (@barackobama) is fourth with 37,501,850 followers; the announcement of his re-election victory in November 2012 was re-tweeted more than 800,000 times.

- The average Twitter user has 208 followers and spends 170 minutes on the site every month.

- There are more than 200 million active Twitter users. Eighty percent of all users access Twitter on mobile devices.

- About 20 million Twitter accounts are believed to be fake.

- The hashtag (#) feature on Twitter which groups tweets by subject debuted in August 2007, having been proposed by a user.

- In October 2009, Google and Microsoft began integrating tweets into their search products.

- In January 2013, Twitter introduced Vine, which enabled users to make and tweet six-second looping videos. Some 12 million Vine videos are uploaded every day.

- Twitter is based in San Francisco, with additional employees in New York, Chicago, Los Angeles and Washington. Its total payroll exceeds 900.

- Prior to Thursday's IPO announcement, many analysts valued Twitter at around $10 billion. By comparison, Facebook went public valued at $16 billion.

- Twitter was incorporated in April 2007, the month after it stole the show at the influential South by Southwest technology and indie music festival in Austin, Texas.

- It was co-founded by Biz Stone, Evan Williams and Jack Dorsey -- @biz, @ev and @jack.

- Asked by AFP in March 2011 why Twitter is such a hit, Stone replied: "A big part is that it is just very simple and connects people to other people they would not otherwise be connected to."

- The initial Twitter logo was created by Stone, a former graphic designer.

- Twitter chief executive Dick Costolo is a former improvisational comedian.

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Twitter wants to fly with billion-dollar IPO
San Francisco (AFP) Oct 04, 2013
Twitter on Thursday unveiled plans to pump up the globally popular one-to-many messaging service with a $1 billion stock market debut. The initial public offering (IPO) is expected to be the most sought-after since Facebook in May 2012, a listing that faced numerous glitches on the Nasdaq and which saw the company's share price slump before recovering this year. Twitter outlined its plan ... read more


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