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.







More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Comments [1]

Richard Yusuf from Bangladesh

Very impressive.

Feb. 20 2014 02:38 AM

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.




Supported by