Twitter unveils low-key video to pitch investors on IPO
SAN FRANCISCO -- Twitter has unveiled its “road show” video, part of its pitch to investors as it prepares for its hotly anticipated initial public stock offering.
The 37-minute presentation posted on the Web on Friday is not as flashy as Facebook’s. It begins with a recap of some of the highlights of the company’s seven years of being at the center of world events and includes interview snippets from Twitter co-founders Jack Dorsey, Evan Williams and Biz Stone. That recap runs, as All Things D’s Mike Isaac points out, exactly 1 minute, 40 seconds.
But most of the video features Chief Executive Dick Costolo standing in front of a plain blue background, making his case for Twitter as an indispensable place to get the latest news and buzz. Chief Financial Officer Mike Gupta also weighs in, explaining Twitter’s moneymaking strategies and revenue growth.
The no-frills production as the company starts its cross-country tour to meet with investors across the country underscores Twitter’s attempt to keep its IPO “low key” in contrast to the overly hyped Facebook IPO. It’s during the road show when investors request how many shares they want and at what price.
Twitter set the pricing range for its shares at between $17 and $20 on Thursday. The company will raise up to $1.6 billion in an offering that will value the company at about $11 billion.