The online conversation service now used by over 230 million people worldwide has started trading today on the NYSE as TWTR. The stock opened at $45.10, much higher than the $26 per share price set yesterday.
Yesterday, based on the $26 per share IPO price, it valued the company at about $14.16 billion, based on 545 million non-diluted shares (or $18.1 billion with 705 million fully diluted shares.) At today’s price (at least at the time of this post) Twitter would be valued at about $31.8 billion. For a still unprofitable social media website!
Twitter’s IPO has been arguable the most anticipated IPO since Facebook’s in 2012. Hopefully Twitter will learn from Facebook’s mistakes and disappointments.
Photo Credit: Kenny Bastani