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Twitter IPO hits $26 per share, market cap of around $18 billion

Twitter's IPO is above estimates at $26 per share and a market cap of $18 billion

| Business, Financial & Legal News | Posted: Nov 7, 2013 3:33 am

It looks like Twitter's IPO is doing well, with the social network's shares being worth $26 per share when it goes on sale. At the $26 price point, and sales of around 70 million shares of common stock, it will see Twitter net $1.82 billion.

 

TweakTown image news/3/3/33766_01_twitter_ipo_hits_26_per_share_market_cap_of_around_18_billion.jpg

 

This pushes Twitter into the ballpark of a valuation of $14.16 billion based on 545 million non-diluted shares, or a maximum of around $18.1 billion based on 705 million fully diluted shares. So, how do we divvy up these billions of dollars? Well, Twitter co-founder, Evan Williams, takes in a 10.4% stake that would be worth $1.48 billion - without options. Jack Dorsey's stake is worth $609 million, and investor Peter Fenton's shares are worth a nice $820 million.

 

Twitter CEO, Dick Costolo's shares are worth a cool $199 million. But, with 16% of the shares, Rizvi Traverse has a nice $2.21 billion worth. Lastly, we have Union Square Ventures also sitting nicely with a $723.8 billion stake in the social network.

NEWS SOURCE
Techcrunch.com

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