Just over a month after its IPO, Twitter’s shares had hit their all time high stock price of $73.31 - a stock price they have yet to see ever again. By the end of its first trading session Twitter stock price had rallied 73% to $44.90, bringing Twitter’s market value to near $31 billion - three times its $10.5 billion valuation in May of that year. Twitter began trading as $TWTR on the New York Stock Exchange on Novemat $26.00 per share. Everyone was excited for what Twitter stock price could become.
Naturally, it was announced in a tweet, with Goldman Sachs as the lead underwriter. All of this churn and Twitter was still not anywhere near being a publicly traded company.įinally, in September 2013 Twitter announced it had filed its confidential S-1 with the Securities and Exchange Commission for an Initial Public Offering. Dorsey was promoted from passive member to Executive Chairman of the board. Williams was fired too in 2010, dumped by the board in favor of COO Dick Costolo. Only two years into running the company, Dorsey was fired by the board, which cited a lack of communication to investors and overspending. It found one in the 2007 South by Southwest Interactive conference in Austin, Texas.ĭuring the festival, Twitter’s usage skyrocketed from 20,000 tweets per day to 60,000 tweets per day as attendees were bombarded with Tweets from speakers, hosts, bloggers and more on giant plasma screens.Ĭome 2008, things weren’t as chipper for Twitter. Slowly chugging along as a network for short status updates, powered mostly through text messages, Twitter needed a catalyst. Seeing promise in the fledgling network, Odeo CEO Evan Williams bought out the companies shareholders in order to focus the firm's efforts on Twitter full-time. “Just setting up my twttr,” Dorsey wrote in the first ever tweet, posted at 9:50 p.m. By March of 2006, the gang had a prototype running on an IBM Thinkpad and Verizon wireless card.
#Facebook stock price software#
Odeo, and its 14 employees, scrambled to pivot the small company into something different.ĭrawing on his experience programming software for taxicab dispatching, Dorsey pitched the idea of a realtime short messaging service to his coworkers Biz Stone and Evan Williams. In 2005, would-be Twitter founder Jack Dorsey was a student at New York University and an employee at ex-Googler Evan Williams’ podcasting company called Odeo.īut then Apple announced iTunes would include its own podcasting platform built into the product.
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