Twitter will be valued at more than $14bn (£8.7bn) when the social media company starts selling its shares on Thursday. The company said it was pricing its Initial Public Offering (IPO) of 70 million shares of its common stock at $26 per share, raising $1.82bn in new money and leaving the company valued at $14.2bn.
The share price has risen as the company’s executives have been making their case to investors on their “roadshow”. Twitter had originally estimated a price range of $17-$20, but on Monday that was upped to $23-$25.
Twitter’s IPO will make billions for some of Silicon Valley’s top names, including co-founders Ev Williams, who owns 59.6m shares and will add $1.47bn-plus to his net worth from the sale, and Jack Dorsey, who owns 23.4m shares. Twitter’s other backers include Amazon’s founder Jeff Bezos, and Marc Andreessen, Netscape’s founder turned serial investor.
The sale is the most…
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