Further to recent discussion re Twitter - ahead of post-IPO lock-up expiry in early May, co-founders Jack Dorsey and Evan Williams, CEO Dick Costolo and key VC...

Anthony Hughes

Thomson Reuters

Further to recent discussion re Twitter - ahead of post-IPO lock-up expiry in early May, co-founders Jack Dorsey and Evan Williams, CEO Dick Costolo and key VC backer Benchmark Capital have now promised not to sell any shares (via 8-K SEC filing (VIEW LINK) ). Normally Twitter would have filed for a secondary offering here to smooth transition to a full free float and allow some insiders to sell - though still technically possible, this filing (and, of course, the poor market for high-beta stocks right now) seems to indicate they won't do that, and are instead just promising not to sell (for timebeing) to ease concerns about the overhang. Of course there are other shareholders that would be free to sell after May 5 and like any VC, Benchmark will sell eventually....stock up a little early Monday (around US$41 versus December high of US$74.73 and US$26 IPO price)...


Anthony Hughes
Senior reporter - Equities
Thomson Reuters

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