Three Ways the Twitter IPO Matters for New York

Thursday, November 07, 2013 - 12:00 AM

On Thursday, Twitter starts trading on the New York Stock Exchange. The initial public offering of shares in the San Francisco-based company matters to New York in several ways.

Number one: office space.

Two years ago, Mayor Bloomberg cut the ribbon on Twitter's small Madison Avenue office. A company spokesman says the office has grown from the original 40-person staff. And if the IPO is successful, Twitter could hire even more people locally.

Number two: money.

Early investors, like New York-based venture capitalist Fred Wilson, could make a big profit. So will Goldman Sachs and the other banks leading the IPO.

Number three: politics.

This is more in the realm of the hypothetical. Twitter co-founder and board member Jack Dorsey recently shared his private ambition to be mayor of New York with CBS' "60 Minutes"

“What I love about New York is just the electricity I feel,” Dorsey said.

To become mayor, Dorsey would first have to move to New York from San Francisco.







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Comments [1]

Richard Yusuf from Bangladesh

Very impressive.

Feb. 20 2014 02:38 AM

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