Friday, November 8, 2013

What Twitter's All About

We're all very proud of the company,said Twitter CEO Dick Costolo following the firm's public listing on the New York Stock Exchange Thursday morning.It's been our users who have gotten us to where we are today.We have a lot of work to do,and I'm anxious to get back to the office tonight and get started on that.All the capital raised today is going into the company.
It's all about making it very simple for new users to come to the platform.It's all about the very,very long-term business we're trying to build,growing the business for all the 2.4 billion connected people to all become users of the platform.
We made it clear that we had every intention to remain an independent company.We'll be making sure that we have people on the ground around the world driving unique regional content onto the platform.We have 94 of the Ad Age Top 100 already working with us this year.We are public;real time;coversational;and distributed.It's all about amplifying the characteristics that we already have,being the indispensible companion to the live experience.
These startups always evolve from those who were originally there.I don't have any time to think about what happened three years ago,Mr.Costolo declared.*
Twitter is very agressively priced at 40 times earnings;there will be better entry points later on,said Mark Mahaney,managing director at RBC Capital Markets.Amazon,Priceline,Netflix and Facebook are better buys right now.The Internet ecosystem generates a lot of wealth.If you pick the right 5-6 companies,that's how the individual trader can make money.
The stock closed at 44.90,down slightly from the 45.10 opening price.

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