Twitter’s IPO roadshow - less media frenzy compared to Facebook
Twitter Inc. held a luncheon for its initial public offering on Wednesday. Around 600 prospective investors were present at the event held at the Mandarin Oriental Hotel, New York City. The event was low-key in contrast to Facebook's investor show prior to its initial public offering year ago. Facebook's IPO involved media frenzy and police presence.
Each investment firm was allowed to have two guests attend the luncheon. The event was held at the 36th floor of Central Park. Twitter Chief Executive Dick Costolo was nowhere to be seen. Last year, Mark Zuckerberg attended Facebook's investor event that was mobbed by media.
Executives of Twitter were dressed in dark suits as each delivered their pitch to investors over the menu of raspberry tart and pesto chicken salad.
A managing partner of 3i Capital Group, Akram Yosri, found the event to be calm. Yosri stated, "I was expecting a lot of fanfare, like a wedding, but it's very nuts and bolts. I like that very much. They're still in early stages of growth."
The luncheon that was held on Wednesday marked the first major occasion that promoted Twitter's IPO. The social media company was seeking to raise USD1.6 billion from its share sale.