Twitter hits the New York Stock Exchange on Thursday, with famous users of the platform including Patrick Stewart and an officer of the Boston Police Department ringing the bell on an opening trading day that began with sales of $45.10, exceeding its initial price of $26 per share. That initial price of $26 for sales as the stock ticker 'TWTR' would value the company at approximately $14 billion.
We just priced our IPO. pic.twitter.com/NWXaO4Myq0
— Twitter (@twitter) November 6, 2013
News about the bombing during the Boston Marathon in April was spread on Twitter with the help of users including members of the Boston Police Department, and reflects the social network's importance during world events.
If Twitter's stock trades well and remains stable for the near future it could make Wall Street more comfortable about owning stock in social media companies, which are still proving how they can generate revenue with advertising and e-commerce.
Many tech startups fail, and Twitter's history up to this point has been equally epic.
2006: Twitter Co-Founder Jack Dorsey posted the tweet that started it all in March 2006. The company was formed out of Odeo, a podcasting startup created by Noah Glass and Evan Williams. The co-founders of Twitter would quarrel on leadership of the company in the coming years, with Glass being forced out, making Dorsey its first CEO.
just setting up my twttr
— Jack Dorsey (@jack) March 21, 2006
2007: Twitter shows how to live-tweet events. The company headed to the South By Southwest innovation and music festival, setting up big screen televisions showing a feed of people to live-tweet their experiences. The hashtag is also created on the website, allowing people to tag a post as related to a certain topic or trend.
2008: Twitter crashes at the MacWorld conference during a keynote by Steve Jobs. A year after its debut the company still faced trouble with site traffic, during which the "fail whale" image would show up on people's screen to let them know the site crashed. The 2008 presidential election also shows the power of social media in political campaigns, and Twitter gains more popularity with news networks as a serious blogging platform.
2009: Twitter and other social media got post-election popularity. Oprah Winfrey joined Twitter and Ashton Kutcher bragged that he got more blog followers than CNN. The Green Movement protests in Iran against that nation's government also showed the growing power of social media to help report world events and help protesters assemble for demonstrations.
2010: Twitter found a way to make advertising money off its growing users base by introducing promoted tweets as part of timelines and search results. Dick Costolo was also hired as the new CEO of Twitter, where he remains today expanding partnerships with advertisers and TV networks.
2011: The year social media proved its power to spread a message and even fuel a revolution. Twitter became the place where news went viral first, demonstrated when tweets about the death of Osama bin Laden went on the social network before the announcement about the operation by President Barack Obama. Tweeting using the hashtags including #Occupy for Occupy Wall Street or #Tahrirsquare for Arab Spring protests in Egypt to oust that nation's leader Hosni Mubarak, people around the world showed beyond a doubt that Twitter has people power. Twitter was here to stay.
2012: Twitter has been working to avoid the missteps of Facebook's IPO in May 2012. Facebook faced intense pressure from Wall Street following its IPO on issues including its revenue strategy and investor relations, and the stock slumped before rising above its IPO price in July of 2013. Facebook opened at $42.05 in May 2012 and was valued at $47.86 on Nov. 7, 2013.
2013:Twitter showed some real-time advertising power when Oreo created an ad for the website that read "you can still dunk in the dark," which was published shortly after a power outage at Super Bowl XLVII in February.