Ten Ways Twitter's IPO Didn't Turn Out To Be Like Facebook's IPO

Twitter worked hard to make sure that its initial public offering didn’t turn into the kind of debacle that Facebook FB -3.18% experienced when it started out as a publicly-traded company. Twitter sold 70 million shares for $26 each in its IPO and so far on Thursday things are looking very different than they did back in May 2012. The company operates in a highly-competitive industry, however, and will still have to work hard to justify the valuation that investors have given it, but here are 10 ways Twitter’s IPO differed from Facebook’s IPO: 1. Banker Buying Not Needed. Twitter’s stock hasn’t needed massive support from its bankers to trade above its IPO price and is headed to close well above it on the first day of trading. In May 2012, Morgan Stanley MS -1.41% had to feverishly buy Facebook stock to keep it above $38. 2. New York, New York. Mark Zuckerberg rung in the Facebook IPO on Nasdaq at a ceremony in Menlo Park, Calif. But Twitter chose to buck the long tradition that has seen hot Silicon Valley tech companies list on Nasdaq and instead chose the New York Stock Exchange. Twitter CEO Dick Costolo and the company’s founders showed up in lower Manhattan this morning prior to Twitter’s opening on the NYSE. 3. No Stock Market Glitch. Shares of Twitter started trading on Thursday morning without any problems. In Facebook’s case, an issue with Nasdaq’s computer programming delayed trading for some 30 minutes and caused confusion among traders. As a result, Nasdaq ended up paying a $10 million fine to the Securities & Exchange Commission and tens of millions more to brokers who lost money.

Can Twitter Save TV? (And Can TV Save Twitter?) Jeff BercoviciJeff Bercovici Forbes Staff 4. It’s tiny. Facebook increased the size of its IPO in the days leading up to it and raised $16 billion. But while Twitter increased the price of the IPO as demand rose, it did not upsize it. Twitter raised some $1.8 billion and the IPO gave the company a valuation of $14.4 billion, or some $18 billion depending if you count its restricted shares. Facebook’s IPO valued the company at more than $100 billion. 5. Insiders Not Selling. Twitter will keep all the money raised in its IPO and use it for general corporate purposes, capital expenditures, or save it for a rainy day. On the other hand, more than half the money raised in Facebook’s IPO went into the pockets of early shareholders of the company, like venture capitalists and hedge funds. 6. Goldman Sachs. The lead underwriter for the Twitter IPO was Goldman Sachs. For years, the big Silicon Valley IPOs, including Facebook’s IPO, were led by Morgan Stanley. Goldman worked to keep much of the offering out of the hands of retail investors and hedge funds that like to short stocks, opting instead for big long-only funds. 7. No profits. Facebook was earning money, $1 billion in the calendar year prior to the IPO. But Twitter has lost $133.9 million in the first nine months of 2013. Still, Twitter is going public at an earlier stage in its growth curve, which might make it easier for Twitter to meet high investor expectations as long as Twitter doesn’t cause them to lose faith in its story. 8. Fewer users. With some 230 million active users, Twitter has about one-fifth of the user base of Facebook today. When it went public, Facebook had 900 million users. 9. Less lock-up. Facebook had more than 1 billion shares ominously coming off of lock-up restrictions within a year of its IPO. The number of shares Twitter will have coming off of lock-up restrictions in the next year will be much more modest. 10. Twitter’s stock is up big on IPO day. Shares of Twitter opened at $45.10 and were up by about 75% in morning trading from its IPO price. That will give it fans on Wall Street, an important new constituency. But it also means that Twitter left hundreds of millions of dollars on the table.

Apple's big bet on iOS 7 gaming to play out this fall

There's a good reason why a significant portion of Apple's iPhone announcement last week was dedicated to showing off the flagship iOS game series Infinity Blade. That's because with iOS 7 -- rolling out to the public Wednesday -- and the new A7 chip's 64-bit architecture, Apple is signaling to the world that it's dead set on remaining the preeminent mobile-gaming ecosystem. iOS has long been the leader in that space thanks to its robust platform and the ease with which developers of all sizes -- from single-app makers to triple-A studios with sprawling mobile suites -- can monetize games. Game apps have heavily populated the most downloaded and highest grossing charts since the advent of the

App Store and have launched entire studios to stardom, from Rovio with Angry Birds to King with Candy Crush. Maintaining this edge means delivering not only full-blown Bluetooth controller support -- initially announced at this year's WWDC as part of Apple's MFi (made for iOS) accessory certification -- but urging developers to round out new hardware with top-notch apps that take advantage of the A7. Both strategies are well under way, and Apple is in a strong position to keep the mobile-gaming crown as it brings them to fruition this fall. Apple has long had its sights set on making handheld gaming devices less appealing, a battle mobile apps have been winning. Apple's success against traditional gaming has always hinged on whether or not it can convince iPhone owners that devices like the PlayStation Vita, Nintendo 3DS, and Nvidia Shield cannot keep up with the pace of iOS game development and its impending hardware offerings. Or, at the very least, that those devices are not worth the money. After all, why cast out large chunks of change on a Nintendo or Sony-owned gaming ecosystem, Apple logic goes, when one exists on your smartphone that's steadily catching up to the gaming juggernauts? While 64-bit smartphone chips will be flooding the market come next year -- as well as updated and cheaper portable gaming devices -- Apple is gunning to be there first, with developers at its side and a line of impressive controllers to boot. If it succeeds, it will be a battle already won. Optimizing for the A7 has already begun When iOS 7 goes public, game developers will have already optimized apps waiting for download. It makes sense too when you note that iOS adoption is typically quick and widespread. (One month after iOS 6's release last September, more than 60 percent of users had installed the update.) "The updated versions of Dungeon Hunter 4 and Playmobil Pirates have cleared Apple approval and are up on the iTunes store," said Thomas Price, a representative for mobile game developer Gameloft. The studio also has a dozen more apps waiting for Apple approval, all optimized for the jump to 64-bit with the iPhone 5S and the more minute software tweaks present in the updated Game Center app. More are on the way from a number of high-profile developers. At Electronic Arts, developers are taking advantage of the OpenGS ES 3.0 interface, a cross-platform API -- currently supported only by the Samsung Galaxy S4, HTC One, updated Nexus 7, and Sony Xperia Z -- widely used for smartphone graphics rendering.

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The proposed tie-up would lead to less competition in the industry and higher prices for consumers, according to a complaint filed today in Washington federal court. The Justice Department said it seeks to permanently block the merger “or any other transaction that would combine the two companies.” US Airways dropped as much as 12 percent and the bonds of American parent AMR Corp. fell on the news.

The Obama administration said in court papers that it wants to stop the deal because it would remove incentive for US Airways to offer lower prices, and spur higher fares. AMR and US Airways plan to fight the suit, AMR Chairman Thomas Horton said in a memo to employees. “This transaction would result in consumers paying the price -- in higher airfares, higher fees and fewer choices,” said U.S. Attorney General Eric Holder in a statement. “Today’s action proves our determination to fight for the best interests of consumers by ensuring robust competition.” The lawsuit, unexpected by analysts and industry executives, marks a sharp break with the Justice Department’s past policy, which allowed six unprofitable airlines to merge over the past five years in an effort to cut costs and end losses. Bankruptcy Filing For AMR, which filed for bankruptcy protection in November 2011, the merger would have completed its reorganization and allowed it to exit court protection. AMR last year flew more than 80 million passengers to about 250 destinations, earning more than $24 billion in revenue, the U.S. said. LINK US Airways in 2012 flew more than 50 million passengers to 200 destinations, with more than $13 billion in revenue, the government said in its complaint. The airline plunged 8.7 percent to $17.18 at 12:49 p.m. in New York.

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Weiner’s support fell from 26 percent last week to 16 percent in Monday’s Quinnipiac University poll. Last week’s survey was taken largely before Weiner’s latest scandal was revealed. “He’s in a free-fall,” said poll director Maurice Carroll. “He can’t win. He simply can’t win.” Standing side by side with his wife, Weiner admitted last week that he had tawdry online exchanges — including X-rated photos — with a then-22 year-old Indiana woman after he stepped down from Congress in 2011 over similar behavior. He later said he had similar exchanges with two other women after his resignation. Forty percent of voters said his behavior disqualified him from consideration as a candidate, up from 23 percent last week. The poll of 446 likely Democratic voters shows Weiner trailing City Council Speaker Christine Quinn (27 percent), Public Advocate Bill de Blasio (21 percent) and ex-city comptroller Bill Thompson (20 percent). The poll has a margin of error of plus or minus 4.6 percentage points. In a statement, Weiner said “polls don’t change anything.”

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June 27th Windows 8.1 also has a few business-oriented tricks up its sleeve

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The Windows 8.1 Preview launched yesterday with much fanfare at Microsoft’s Build conference in San Francisco. On the other side of the planet, meanwhile, Microsoft was kicking off TechEd Europe, where it revealed the features and benefits of Windows 8.1 for business users. The upcoming free update includes a massive number of tweaks and new features. Many of them—such as the ability to swipe your hand in front of a webcam to turn pages, and the ability to wirelessly stream media to a TV via an Xbox game console—are aimed exclusively at consumers.

Now the title is formal

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The Bling Ring, which opened wide in the United States over the weekend, is like most of Sofia Coppola’s other films: occasionally beautiful, freighted with never-quite-articulated existential angst and absolutely unsure of what it has to say. For an hour and thirty minutes, we are treated to the story of a group of teenagers from the LA suburbs who decide to rob a bunch of celebrity houses, get to do this quite a lot before they are arrested, and… that’s it. It’s not so much that one expected a moral treatise from this but that the movie’s refusal to comment on what it’s depicting makes it look asleep at the wheel.

Change the title to something else

This is a tynt test.

The Bling Ring, which opened wide in the United States over the weekend, is like most of Sofia Coppola’s other films: occasionally beautiful, freighted with never-quite-articulated existential angst and absolutely unsure of what it has to say. For an hour and thirty minutes, we are treated to the story of a group of teenagers from the LA suburbs who decide to rob a bunch of celebrity houses, get to do this quite a lot before they are arrested, and… that’s it. It’s not so much that one expected a moral treatise from this but that the movie’s refusal to comment on what it’s depicting makes it look asleep at the wheel.

Another c browser test PUB-753

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We don't need to convince you of the merits of a good pair of noise-canceling headphones. But, most of them have their drawbacks — namely, bulky design and a sometimes-undesirable isolation from your surroundings. The Bose QuietComfort 20 Noise Canceling Headphones ($300) fit inside your ear, taking up nearly no space at all, and an aware mode lets you tune into the world around you while still listening to music. The noise-canceling tech rivals most over-ear headphones, while the sound is everything you expect from Bose. A combination mic and remote in the cord lets you control your device or make a call.

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We don't need to convince you of the merits of a good pair of noise-canceling headphones. But, most of them have their drawbacks — namely, bulky design and a sometimes-undesirable isolation from your surroundings. The Bose QuietComfort 20 Noise Canceling Headphones ($300) fit inside your ear, taking up nearly no space at all, and an aware mode lets you tune into the world around you while still listening to music. The noise-canceling tech rivals most over-ear headphones, while the sound is everything you expect from Bose. A combination mic and remote in the cord lets you control your device or make a call.

Test SS Bar Staging

This is a tynt test.

We don't need to convince you of the merits of a good pair of noise-canceling headphones. But, most of them have their drawbacks — namely, bulky design and a sometimes-undesirable isolation from your surroundings. The Bose QuietComfort 20 Noise Canceling Headphones ($300) fit inside your ear, taking up nearly no space at all, and an aware mode lets you tune into the world around you while still listening to music. The noise-canceling tech rivals most over-ear headphones, while the sound is everything you expect from Bose. A combination mic and remote in the cord lets you control your device or make a call.

Hello World

Hello World

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