Twitter kicks off pre-IPO investor roadshow
Executives pitch social network's power to instantly share information
Computerworld - Twitter kicked off its pre-IPO roadshow, meeting with potential investors and touting the social network's ability to democratize users' voices and the power of instantly sharing information with the world.
CEO Dick Costolo and Chief Financial Officer Mike Gupta met with investors at the invitation-only event, the report noted. They are reportedly meeting with potential investors in New York City today, moving on to Boston and Chicago later this week.
"We just never thought it would go this way and I think that's part of the reason it's succeeded," said Biz Stone, a co-founder of Twitter, in a video featuring company executives that was put together for the roadshow. "It's such a simple tool but people have done some amazing thing with it."
In the video, Twitter noted that more than 500 million tweets are posted per day. More than 350 billion tweets have been published since the site was launched in 2007.
Twitter has more than 230 million global monthly active users, Costolo said, and 77% of those users are outside the U.S. and another 76% primarily access Twitter on a mobile device.
"Twitter gives every voice the ability to echo around the world," said Costolo. "Twitter is a powerful platform to share information with the world instantly. When events happen in the real world, they happen digitally on Twitter... Anyone can tweet and anyone can read tweets. It has democratized content creation and distribution,"
The video also notes that users tweeted pictures of passengers being rescued from a U.S. Airways jet that made an emergency landing on the Hudson River in 2009. It also shows President Obama making his first presidential tweet in 2010 and an astronaut talking about tweeting from space.
Twitter is expected to begin trading on the New York Stock Exchange next week.
Last week an amended S-1 pre-IPO document filed with the U.S. Securities and Exchange Commission, showed that Twitter is setting its share price between $17 and $20.
Twitter, with a maximum valuation of $11.1 billion, plans to offer 70 million shares, while giving underwriters an option for another 10.5 million.
During its roadshow, industry analysts expect investors to grill Twitter executives on why the microblogging site hasn't turned a profit and how it plans to rectify that. Along with quizzing executives about how they plan to fend off social rival Facebook, potential investors also are likely to focus on how the company can sustain user growth and engagement, their advertising plans and why some people join the site but don't end up using the service.
Sharon Gaudin covers the Internet and Web 2.0, emerging technologies, and desktop and laptop chips for Computerworld. Follow Sharon on Twitter at @sgaudin, on Google+ or subscribe to Sharon's RSS feed . Her email address is email@example.com.
- Twitter's slipping user growth spooks investors
- Get ready to tweet your questions for Twitter's first earnings call
- Super Bowl sets Twitter record, as Volkswagen launches social war room
- Perspective: Twitter's success opens up IPO pipeline
- Update: Twitter goes public at $45 a share
- With IPO cash influx, Twitter could be bigger threat to Facebook
- Ahead of IPO, Twitter shines up multimedia image
- Twitter kicks off pre-IPO investor roadshow
- As its IPO looms, Twitter faces investor grilling
- Twitter experiments with 'Event Parrot' -- a news delivery service
Read more about Social Media in Computerworld's Social Media Topic Center.
- 15 Non-Certified IT Skills Growing in Demand
- How 19 Tech Titans Target Healthcare
- Twitter Suffering From Growing Pains (and Facebook Comparisons)
- Agile Comes to Data Integration
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- The Business of Social Business Social business represents a significant transformational opportunity for organizations. Read this whitepaper to learn more.
- HP HAVEn: See the big picture in Big Data HP HAVEn is the industry's first comprehensive, scalable, open, and secure platform for Big Data. Enterprises are drowning in a sea of data...
- What Datapipe customers need to know about the new PCI DSS 3.0 compliance standard This handy quick reference outlines what PCI DSS 3.0 is, who needs to be compliant and how Alert Logic solutions address the new...
- The 12 PCI DSS 3.0 requirements addressed by Peer 1 Hosting This handy quick reference outlines the 12 PCI DSS 3.0 requirements, who needs to be compliant and how Alert Logic solutions address the...
- Meg Whitman presents Unlocking IT with Big Data During this Web Event you will hear Meg Whitman, President and CEO, HP discuss HAVEn - the #1 Big Data platform, as well...
- The New Way to Work Knowledge Vault This Knowledge Vault focuses on how, in today's increasingly virtual world, it's more important than ever to engage deeply with employees, suppliers, partners,... All Social Media White Papers | Webcasts