Twitter executives have no 'current plans' to sell shares

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Twitter officially went public on Nov. 7, 2013, on the New York Stock Exchange, in the most anticipated technology-related IPO since Facebook's in 2012.

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Copyright 2014 Reuters
Copyright 2014 Reuters

Twitter co-founders Evan Williams and Jack Dorsey and CEO Dick Costolo have "no current plans" to sell any of their shares, the company revealed in an April 14 SEC filing. The earliest they'd be able to sell their shares, following the expiration of a lockup period, is May 5.

Twitter co-founder Evan Williams (pictured), who does not have a day-to-day role at the company, <a href="http://www.sec.gov/Archives/edgar/data/1418091/000119312513400028/d564001ds1a.htm">is the single largest individual shareholder</a> with 12% of the company's shares. Co-founder Jack Dorsey has 4.9% and current CEO Dick Costolo has 1.6%. Source: www.flickr.com

Twitter co-founder Evan Williams (pictured), who does not have a day-to-day role at the company, is the single largest individual shareholder with 12% of the company's shares. Co-founder Jack Dorsey has 4.9% and current CEO Dick Costolo has 1.6%.

Twitter's non-executive employees were allowed to sell as many as 9.9 million shares for the first time on Feb. 15 with the expiration of a lockup period. Lockup periods are designed to prevent company insiders--founders, other executives, and employees--from flooding the market with shares upon IPO.

A lawsuit that was filed against Twitter in the days leading up to its IPO was dismissed by a federal judge in New York on April 21. The lawsuit alleged that Twitter mislead investors by planning a private stock sale in 2012 before canceling that sale.

Twitter on April 17 officially announced a new mobile ad that lets users install an app directly from a tweet. Though the feature is currently only in beta testing, it's expected to become an important source of revenue for the company.

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Twitter said April 15 that it had acquired Gnip, a social data analytics company. Twitter says it struck the deal--terms were not disclosed--to help "offer more sophisticated data sets" to businesses and other partners.

In the five months since it went public on Nov. 7, 2013, Twitter shares have traded as high as $74.73, which the company reached on Dec. 26, 2013. The company's shares slowly declined in the opening months of 2014, ending at $40.05 on April 11--$4.85 lower than its closing price on Nov. 7, 2013.

"#Ring!" @Twitter

Twitter began trading on the NYSE on Nov. 7, 2013, at an opening price of $26; the price ended at $44.90 at the end of its first day of trading. The company raised some $1.82 billion in the IPO, giving it a valuation of around $18 billion.

Twitter released its first-ever earnings report on Feb. 5, with the company posting $243 million in revenue for Q4 2013. The company will release its Q1 2014 earnings on April 29.

Twitter on Dec. 5 <a href="http://www.sec.gov/Archives/edgar/data/1418091/000119312513462921/d638295d8k.htm">named its first female board member</a>. Former Pearson CEO Marjorie Scardino, who takes her seat on the board effective immediately, said there couldn't be a "more exciting time to join" Twitter. The company had come under criticism leading up to its IPO for having no female board members. Source: www.flickr.com

Twitter on Dec. 5 named its first female board member. Former Pearson CEO Marjorie Scardino, who takes her seat on the board effective immediately, said there couldn't be a "more exciting time to join" Twitter. The company had come under criticism leading up to its IPO for having no female board members.

Twitter has made several tweaks to its apps -- possibly to make the service easier for novices to use -- in the days before and after the IPO, <a href="https://blog.twitter.com/2013/keep-up-with-conversations-on-twitter">adding blue lines between tweets</a> to connect conversation threads and <a href="https://blog.twitter.com/2013/picture-this-more-visual-tweets">allowing in-line photos and Vine videos</a> to appear automatically in users' timelines. Source:

Twitter has made several tweaks to its apps -- possibly to make the service easier for novices to use -- in the days before and after the IPO, adding blue lines between tweets to connect conversation threads and allowing in-line photos and Vine videos to appear automatically in users' timelines.

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