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Successful Twitter IPO to benefit major stakeholders- report

October 19
12:21 PM 2013

A Reuters report revealed that major stakeholders would gain dollar benefits should Twitter's initial public offering be successful. The online messaging service's Co-Founder Evan Williams, who holds a 12% ownership stake, would be one of the many investor winners. Twitter's largest institutional shareholder Rizvi Traverse and affiliates, whose combined holdings sum up to 17.6%, would also win, according to the report. Hollywood and Silicon Valley investor Suhail Rizvi runs Rizvi Traverse. It was also made known that an alternative asset management unit of JPMorgan Chase had a 10.3% holding in Twitter. Twitter Chief Executive Officer Dick Costolo also held a 1.6% stake.

Other stakeholders who would benefit from Twitter's possibly successful share sale included Spark Capital with a 6.8% ownership share, and Benchmark Capital, which retained its 6.6% ownership stake in Twitter. Another investment firm, Union Square Ventures, could also benefit from a successful IPO with its 5.9% ownership stake.

Twitter chose to list on the New York Stock Exchange (NYSE) over Nasdaq. Both had courted Twitter fiercely. However, analysts correctly predicted that technical glitches in Facebook's IPO were counted against Nasdaq that Twitter decided to go with NYSE.

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