Anyone doubting whether Twitter could avoid Facebook’s missteps and pull off a successful IPO now has their answer.
Twitter ended its first day of trading at $44.90, an increase of nearly 73% on the day, valuing the company at just below $25 billion. That first-day increase isn’t just successful compared to Facebook, which ended its first day up just $0.23 above its IPO price. It makes Twitter one of the 15 most successful IPOs of the year to date, according to data provided to Mashable by Dealogic.
“It’s a classic IPO. That’s what you want: a pop on the first day,” Santosh Rao, an analyst with Greencrest Capital, told Mashable. “They definitely benefited from Facebook’s playbook. They managed expectations very well.” Read more…
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Read more : Twitter’s IPO: Less Volatile Than Facebook’s and Less Profitable
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