Social network Twitter is on the hunt for almost 90 engineers and while many of the positions are focused on traditional remits like Android, Linux, and Cloud, several other roles up for grabs seem to indicate that the company is preparing for an IPO.
There’s plenty of stuff in this world the Informer doesn’t understand and how companies that make no money can rake it in from a stock market floatation is one of them. The Twitter founders buzzed the bell at the New York Stock Exchange on Thursday and released 70 million shares to the frenzied masses. Despite opening at $26, the market closed at almost $45, with the company reflecting a market value of more than $31bn. The company’s valuation ahead of the IPO was closer to $17bn.
With Twitter’s IPO set to go live later today the company has priced its shares at $26 each, higher than the expected range of $23-25. With 70 million shares on offer the company is looking to score around $1.8bn in proceeds with a 30 day option for another 10.5 million shares to be sold.
Facebook has announced that it will shortly launch its App Center, a new portal for its users to discover and rate smartphone apps.. Due to be launched “in the coming weeks”, the App Center will showcase iOS, Android and HTML5 apps. Facebook will use indicators such user rating and engagement to select the apps it feels are of the highest quality.
As the industry awaits Facebook’s IPO, Telecoms.com takes a look at what the social networking site going public will mean for the telecoms industry. The social networking site revealed in its documents that it currently has 823m unique users per month, according to its December 2011 figures, and half of that figure – around 430m – are using the site from a mobile device, which is larger than the global Android install base.
Social gaming giant Zynga has filed for its much-anticipated initial public offering in the US. While the company has yet to put a price tag on the shares, as part of the process of calculating its registration fees with the Securities and Exchange Commission (SEC), Zynga has estimated it will raise $1bn from the sale.
East Africa’s biggest ever initial public offering (IPO) kicked off on Monday, as Kenyan operator Safaricom began trading on the Nairobi stock exchange. The government’s sale of a 25 per cent stake in the carrier has proved popular, with the listing more than 400 per cent oversubscribed. Local reports suggest around 800,000 domestic and foreign [...]