Advertisement

HindustanTimes Mon,22 Sep 2014

Other Stories

Advertisement
As Twitter goes public, a look at other tech IPOs
AFP
New York City, September 13, 2013
First Published: 12:51 IST(13/9/2013)
Last Updated: 18:30 IST(13/9/2013)
Monitors show the value of the Facebook, Inc. stock during morning trading at the NASDAQ Marketsite in New York. Credit: Reuters/Eric Thayer

Twitter, which announced plans on Thursday to go public, is the latest US technology company to test the waters on Wall Street.



Here is a look at the fortunes of some other notable tech companies which have conducted initial public offerings over the past two years:
   
Facebook

The social network started by Mark Zuckerberg, which now has more than 1.1 billion users around the globe, had a rocky debut after it went public at $38 a share in May 2012 with a valuation of $16 billion.

Life after Facebook's IPO

Facebook shares fell below $20 over the past year and only climbed back over their offer price in July. Facebook shares closed at $44.75 on Thursday, boosted recently by reports that mobile advertising revenue is on the rise.

Facebook founder, Chairman and CEO Mark Zuckerberg, center, rings the opening bell of the Nasdaq stock market, from Facebook headquarters in Menlo Park, Calif. Photo:AP/Nasdaq via Facebook, Zef Nikolla


Facebook has never been stronger since IPO: Sandberg
   
Linkedin

The social network for professionals and job-hunters, LinkedIn has been one of the biggest stars of the technology sector since turning to Wall Street in May 2011.

IPO market heats up, more startups going public

Shares of LinkedIn more than doubled from their offer price of $45 on the first day of trading. LinkedIn, launched in 2003, closed at $249.70 on Thursday.

Linkedin founder Reid Garrett Hoffman (C) and CEO Jeff Weiner (2nd R) at the ringing of the opening bell of the New York Stock Exchange May 19, 2011 during the initial public offering of the company. Photo: AFP/Stan Honda

   
Groupon
   
Online daily deals sensation Groupon went public in November 2011, raising $700 million in what at the time was the biggest initial public offering by an Internet company since Google.

Groupon stock tumbles as IPO lock-up period ends
   
But the Chicago-based company, which was listed on the Nasdaq at $20, has struggled since then and its share price closed at $11.76 on Thursday. Founder Andrew Mason was fired as chief executive of the company in February amid sluggish growth.

The Groupon logo is displayed in the lobby of the company's international headquarters in Chicago, Illinois. Photo: AFP/ Scott Olson/Getty Images

   
Yelp

Shares of restaurant and business review website Yelp have soared since the San Francisco-based company went public in March 2012 with a $15 initial public offering price.

Online reviews site Yelp to go public

Yelp shares closed at $63.77 on the New York Stock Exchange on Thursday. Yelp, founded in 2004, offers user-generated reviews of service businesses by city across the United States, Canada and western Europe.

Employees of the online review site Yelp watch as New York City Mayor Michael Bloomberg speaks at the new East Coast headquarters of the tech company in New York City. Photo: Spencer Platt/Getty Images/AFP

   
Pandora

Internet radio Pandora made its Wall Street debut in June 2011, raising $235 million with stock priced at $16 a share.

Pandora, which creates personalized radio stations for users based upon their favorite artists or songs, traded below its offer price until recently but closed at $23.97 on Thursday. Pandora named a new chief executive on Wednesday, sending its stock price up 12 percent for the day.
   
Zynga

Online gamemaker Zynga was valued at $7 billion when it made its play on the stock market in December 2011.

Zynga slashes work force by a fifth, shares dive

But the company behind Facebook games such as FarmVille and Mafia Wars has been on a losing streak since then. Zynga shares, which were offered at $10, closed at $3.02 on Thursday.


comment Note: By posting your comments here you agree to the terms and conditions of www.hindustantimes.com
blog comments powered by Disqus
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved