IPO

Hannah Kuchler

Until Twitter revealed its list of principal shareholders in its initial public offering filing, few knew who actually owned the company.

But now a new book published on Tuesday reveals how three co-founders split the stock and why Evan Williams may be the only one to become a billionaire from the offering.

 

If there were any remaining doubts that Twitter wanted to contrast its initial public offering with that of Facebook’s, consider the way the messaging platform is running its investor roadshow.

Last May, Mark Zuckerberg donned his trademark “hoodie” and strode through the main entrance of the Sheraton Hotel, where the lobby was flooded with network reporters, cameraman and journalists. The media flurry surrounded not just the Facebook founder but also would-be investors.

But here on the 36th floor of the Midtown Manhattan Mandarin Oriental hotel in the lush Time Warner Center just off Central Park West, I am the only reporter in sight, writes Arash Massoudi

Hannah Kuchler

Twitter took advantage of the new Jobs Act to file the drafts of its initial public offering document in secret, denying journalists and investors the chance to watch its rough and tumble with the SEC.

But when the registration document was published on Thursday, the SEC also revealed the draft filings Twitter had made since it filed in private way back in July. There’s no big secret hiding here but a few interesting changes that give an indication of what Twitter may have been talking to the SEC about – although of course, they could have just decided to change it themselves. 

Hannah Kuchler

Ladies and gentleman, the moment you have all been waiting for is fast-approaching: Twitter is due to file the small print on its initial public offering, a bulky S-1 registration statement that will allow investors a peek into the messaging platform’s business.

Here is the Financial Times “Ctrl-F” guide to getting the news fast (Alternatively, please tune in to FT.com when it happens, where we’ll do the heavy lifting for you): 

Hannah Kuchler

The much-anticipated Twitter IPO (TwIPO?) has arrived. Twitter chose to announce it, of course, on its own site:

 

Was Facebook’s IPO a flop? Following the social networking company’s rollercoaster week of trading, that was the question at the heart of much of the debate with tech commentators. 

Maija Palmer

After the excitement of Facebook’s $104bn IPO and the subsequent fall in its shares, something more modest is coming onto London’s alternative investment market.

Incadea, an Austrian company that provides software for BMW and other car dealerships, will raise around £17m on Friday, in a stock market float expected to value the company at £47m.

It’s a lot smaller than Facebook, but it is a rare technology listing in London, where the tech IPO market has been considered closed for a long time.  

Richard Waters

After the breathless build-up, Facebook’s fizzling stock price is drawing plenty of negative reaction this week. But compared to one alternative scenario – a big first-day “pop”, which many investors seemed to have been betting on – this is far preferable in the long run for both the company and its shareholders. 

Facebook has become the public network – no longer a private company, the social network now has shareholders and a ticker symbol (FB) to go with the 900m users of its service.

Its initial public offering was priced at $38 on - the top end of its range, giving the Silicon Valley company a valuation of $104bn. But after opening at $42.05, Facebook’s underwriters had to fight to keep it above its float price, the shares closing at just $38.23, up 0.6 per cent.

For a Facebook “Timeline” of its opening day – from before the opening-bell ceremony at its Menlo Park headquarters through a frantic trading day – read Tim Bradshaw and Chris Nuttall’s live blog after the jump.  

Tim Bradshaw

As Facebook settles its IPO price at a top-of-the-range $38, valuing the social network at $104bn, Facebookers are doing what Facebookers do: hacking.

In a so-very-Facebook move, the company is running an overnight hackathon on Thursday night, right up until founder Mark Zuckerberg rings the Nasdaq opening bell on Friday morning – an attempt to show the world that the company’s heart really lies in the product, not the money.