Which microblogging platform went public in 2013?
Answer
The microblogging platform that went public in 2013 was Twitter. Twitter’s initial public offering took place on November 7, 2013, when its shares began trading on the New York Stock Exchange under the symbol TWTR.
Twitter had developed from a short-message service created by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in 2006. The platform became known for brief public posts, originally limited to 140 characters, and for its rapid spread of breaking news, commentary, and cultural trends.
The company priced its IPO at $26 per share and sold 70 million shares. On the first trading day, the stock closed at $44.90, giving Twitter an approximate valuation of $31 billion. The IPO raised about $1.8 billion, providing substantial capital while also subjecting the company to public reporting and investor scrutiny.
Facebook is an easy source of confusion because it also became a major social-media IPO, but Facebook went public in 2012. LinkedIn’s IPO was in 2011, while Instagram was acquired by Facebook and did not conduct a standalone IPO.