News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Click for more information, or
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
Advertisement
Free Gartner Report:
Drive innovation & collaboration
with the "Everyone's IT" approach.

View the research report
World Wide Web
Gartner's #1 for endpoint backup
Average Rating:
Rate this article:  
Tweet This: It Was a Good Day for TWTR

Tweet This: It Was a Good Day for TWTR
By Barry Levine

Share
Share on Facebook Share on Twitter Share on Linkedin Share on Google Plus

Twitter, which had its IPO Thursday on the New York Stock Exchange, has assumed a major role in the culture, not far from what CEO Dick Costolo has described as "the pulse of the planet." Major news and cultural events ricochet through its tweets, and Twitter is commonly used by protest groups, corporations and individuals alike.
 


The pithiest media service had a big day Thursday that is hard to convey in 140 characters. After years of hinting and planning, Twitter debuted on Wall Street.

The IPO price for institutional investors of TWTR had been $26, the opening price $45.10 and the closing price on the first day was $44.90. There are 70 million shares available on the New York Stock Exchange.

CEO Dick Costolo told CNBC that his is a "long-term company," in that there is "a fantastic use case for every person on the planet."

6-Year-Old Company

The 6-year-old company presented that user-oriented profile in its choice of who would ring the market's opening bell at 9:30 a.m. EST. Instead of Twitter's founders or current executive leadership, the honor was performed by three very different users: actor Patrick Stewart, a 9-year-old named Vivienne Harr who has used the service to promote a lemonade stand that raised money and awareness against child slavery, and a Boston police officer.

After a tumultuous founding which was recently chronicled in a New York Times Magazine article, among other places, the company is now raking in revenue from Promoted Tweets and other advertiser-oriented features that are designed to target its 232 million users.

In 2012, Twitter's good news was that its revenue hit $317 million, but it still lost $80 million. In 2013, revenue has grown to $422 million, while losses stand at $134 million. Twitter has said that its key goals are to sharpen the definition of its brand, become profitable and build up its revenue through new ad opportunities, mobile devices and international sales. The company has not yet said when it expects to actually make a profit, although some Twitter-watchers have predicted it will not be until at least 2015.

'Pulse of the Planet'

But profit isn't everything on Wall Street. Facebook had an annual profit of $1 billion before it launched its initial public offering in May of last year, but that company's public launch is now considered a failure because of an overstated initial price and delays in trading. At the end of the first day of trading, Facebook's price per share was only 23 cents higher than its IPO, although it now stands nearly 30 percent higher.

Setting the IPO price in accordance with market expectations is an art. Scott Cutler, executive vice president at the New York Stock Exchange, told news media that officials had taken a while to establish Twitter's initial price in order to avoid gyrations.

The company has assumed a major role in the culture, not far from what Costolo has described as "the pulse of the planet." Major news and cultural events ricochet through its short messages, which have now been expanded to include images and "cards," and the service is commonly used by protest groups, corporations and individuals alike to quickly burst messages on the world and daily life.
 

Tell Us What You Think
Comment:

Name:



Get Powerful App Acceleration with Cisco. In a world where time is money, you need to accelerate the speed at which data moves through your data center. Cisco UCS Invicta delivers powerful, easy-to-manage application acceleration for data-intensive workloads. So you can make decisions faster and outpace the competition. Learn More.


 World Wide Web
1.   Twitter May Remove Pics of Deceased
2.   Google IPO Began Decade of Big Bets
3.   Assange Talks of Leaving Embassy
4.   Russian Hacker To Be Held Until Trial
5.   Online Sites vs. Retailing in India


advertisement
OkCupid Experiments with Daters
Unethical without user consent?
Average Rating:
Twitter May Remove Pics of Deceased
Balancing privacy and public interest.
Average Rating:
Online Retailers Ponder Actual Stores
'Click-and-mortar' shops popping up.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Researchers Find Malicious Android Apps Can Hack Gmail
A new study shows that a weakness in the Android mobile operating system can be used to steal sensitive, personal info from unwitting users. Gmail proved to be the easiest app to attack; Amazon, the hardest.
 
UPS Stores in 24 States Hit by Data Breach
Big Brown has been breached. UPS said that about 105,000 customer transactions at 51 of its UPS Store locations in 24 states could have been compromised between January and August.
 
Cost of Target Data Breach: $148 Million Plus Loss of Trust
The now infamous Target data breach is still costing the company -- and its shareholders -- plenty. In fact, the retailing giant forecast the December 2013 incident cost shareholders $148 million.
 

Enterprise Hardware Spotlight
Acer's New Desktop Box Rides the Chrome OS Wave
Filling out its Chrome OS line, Acer is following the introduction of a larger Chromebook line earlier this month with a new tiny $180 desktop Chromebox and also a smaller Chromebook.
 
Feds OK $2.3 Billion IBM-Lenovo x86 Server Deal
IBM and Lenovo are celebrating U.S. approval of their x86-based server deal, having cleared some major security hurdles. The deal makes Lenovo a major player for enterprise data centers.
 
Three New Lenovo PCs Aimed at Business Users
With businesses wanting computing solutions that do more for less money, Lenovo has unveiled three new desktop PCs that it says offer solid computing at a budget-minded price.
 

Mobile Technology Spotlight
Screen Shortage Briefly Puts Brakes on iPhone 6
RAM? Check. Antenna switch? Check. Screen? Oops. Parts suppliers for Apple have found themselves facing a shortage of screens for the new iPhone 6 as next month's release date for the new smartphone looms.
 
Bounty Offered to Coders for Oculus Rift Bugs
Coders who find bugs in software for the Oculus Rift VR immersive headset could receive a reward of at least $500 under Facebook's White Hat bounty program. Facebook acquired Oculus in March.
 
Google Glass Adds Voice Access to Phone Contacts
The latest update to Google Glass will let users access their top 20 phone contacts with voice commands alone. A user can then choose a phone call, Google hangouts, e-mail or text messaging.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | CRM Systems | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.