Twitter's co-founders and directors have the most shares

Oct 4, 2013 07:08 GMT  ·  By
Twitter's leaders have the most shares, but their order is a little surprising
   Twitter's leaders have the most shares, but their order is a little surprising

Twitter’s IPO filing has finally been unveiled and it reveals the company’s holders, with the company’s leadership holding on to the largest number of shares.

Jack Dorsey, co-founder and chairman has some 23.4 million shares, while CEO Dick Costolo has 7.6 million shares. Co-founder and former CEO Evan Williams holds onto 56.9 million shares, while Peter Fenton has 31.6 million shares for Benchmark Capital.

There’s also a slew of investors that have about 5 percent of the shares, including Rivzi Traverse, Spark Capital, Benchmark, Union Square Partners and DST Global.

Judging by the release of the filing, the rumored timeline for the IPO seems accurate and indicates the shares could be trading as soon as November. The date could be set back, however, due to the government shutdown in the United States, which has impacted the financial markets quite heavily.

Twitter has filed for the IPO back in July, but only revealed the fact in September. In the meantime, they’ve been going over various issues alongside the regulators. The company filed for a confidential IPO, something that is reserved for businesses with revenues of less than $1 billion, according to the JOBS act.

The filing reveals Twitter’s revenues in 2012 hit $316.9 million (€232.5 million) and 253.6 million (€186 million) for the first half of 2013, estimates indicating to a $600 million (€440.2 million) revenue for the entire year.

The confidential IPO allowed Twitter to delay revealing its financial situation up until before the roadshow, when investors need to have the full picture.

So far, the company has decided upon several banks to help out with the IPO, including Goldman Sachs, Morgan Stanley, J.P. Morgan, Deutsche Bank and Bank of America Merrill Lunch, but also Allen & Co. and Code Advisors.