As Twitter goes public, a look at other tech IPOs

As Twitter goes public, a look at other tech IPOs

SAN FRANCISCO - Twitter, which on Thursday disclosed its plans to go public, is the latest US technology company to test the waters on Wall Street.

Here is a look at the fortunes of some other notable tech companies which have conducted initial public offerings over the past two years:

FACEBOOK

The social network started by Mark Zuckerberg, which now has more than 1.1 billion users around the globe, had a rocky debut after it went public at US$38 a share in May 2012 with a valuation of US$16 billion.

Facebook shares fell below US$20 over the past year and only climbed back over their offer price in July. Facebook shares closed at US$49.18 on Thursday, boosted recently by reports that mobile advertising revenue is on the rise.

LINKEDIN

The social network for professionals and job-hunters, LinkedIn has been one of the biggest stars of the technology sector since turning to Wall Street in May 2011.

Shares of LinkedIn more than doubled from their offer price of US$45 on the first day of trading. LinkedIn, launched in 2003, closed at US$245.07 on Thursday.

GROUPON

Online daily deals sensation Groupon went public in November 2011, raising US$700 million in what at the time was the biggest initial public offering by an Internet company since Google.

But the Chicago-based company, which was listed on the Nasdaq at US$20, has struggled since then and its share price closed at US$11.30 on Thursday. Founder Andrew Mason was fired as chief executive of the company in February amid sluggish growth.

YELP

Shares of restaurant and business review website Yelp have soared since the San Francisco-based company went public in March 2012 with a US$15 initial public offering price.

Yelp shares closed at US$71.02 on the New York Stock Exchange on Thursday. Yelp, founded in 2004, offers user-generated reviews of service businesses by city across the United States, Canada and western Europe.

PANDORA

Internet radio Pandora made its Wall Street debut in June 2011, raising US$235 million with stock priced at US$16 a share.

Pandora, which creates personalized radio stations for users based upon their favourite artists or songs, traded below its offer price until recently but closed at US$26.44 on Thursday.

ZYNGA

Online gamemaker Zynga was valued at US$7 billion when it made its play on the stock market in December 2011.

But the company behind Facebook games such as FarmVille and Mafia Wars has been on a losing streak since then. Zynga shares, which were offered at US$10, closed at US$3.67 on Thursday.

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