Twitter goes public on NYSE

8C9609995-wall_street_twitter_ipo-26277643_v2.blocks_desktop_teaseTwitter is set to go public on the New York Stock Exchange Thursday at 9:30 a.m. ET under the ticker TWTR.

The social media site that limits users to 140 characters per “tweet” has set a price of $26 per share and is worth an estimated $18 billion, which is more than Macy’s that is valued at $17 billion.

Jack Dorsey began the site seven years ago and since then it has taken the web by storm, attracting celebrities, political users and businesses alike. Its current CEO is former Google executive, Dick Costolo.

Twitter has prepared for its NYSE debut so that they don’t have the same struggles Facebook did 18 months ago.

The site, that hasn’t turned in a profit in its first seven years of existence will have some challenges getting revenue from outside of the United States. An estimated 174 million of Twitter’s 232 million users live outside of the U.S. but only bring in 26 percent revenue.

The company plans to hire sales reps in Australia, Brazil and Ireland to higher revenue overseas.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s