Who Owns Twitter? A Brief Overview of the Company’s History and Ownership Structure
Twitter is one of the most popular social media platforms in the world, with over 330 million active users worldwide. Since its launch in 2006, the company has gone through several changes in ownership and management, which have helped shape its current identity.
Here is a brief overview of Twitter’s history and ownership structure, and a closer look at the individuals and organizations that own the company.
Twitter’s Early Days
Twitter was founded in 2006 by Jack Dorsey, Biz Stone, and Evan Williams, who were all employees of a podcasting company called Odeo. They launched the social media platform as a way for people to share short messages, or “tweets,” with their followers.
The platform quickly gained popularity and became a key player in the social media landscape. In 2007, the company received its first round of funding, which valued it at $20 million.
Over the years, Twitter has gone through several ownership changes. In 2008, Williams replaced Dorsey as CEO of the company. In 2010, the company raised $200 million in a funding round led by Kleiner Perkins, which valued Twitter at $3.7 billion.
In 2013, Twitter filed for an initial public offering (IPO), which raised $1.82 billion and valued the company at $14.2 billion. The IPO made many of Twitter’s early investors, including Dorsey and Williams, very wealthy.
In 2015, Dorsey returned to Twitter as CEO, replacing Dick Costolo. The following year, the company faced a decline in user growth and revenue, which led to a drop in its stock price.
Today, Twitter is a publicly traded company, listed on the New York Stock Exchange under the symbol TWTR. Its ownership structure is widely dispersed, with no individual or group holding a controlling stake.
According to the company’s most recent proxy statement, as of 2021, the largest individual shareholder is Evan Williams, who owns 6.5 million shares, or 0.82% of the company’s outstanding shares. Other notable shareholders include Jack Dorsey, who owns 2.3 million shares, or 0.29% of the outstanding shares, and Vanguard Group, which owns 8.3% of the outstanding shares.
While Twitter has gone through several ownership changes since its founding in 2006, today it is a publicly traded company with a widely dispersed ownership structure. Its largest shareholders are individuals such as Evan Williams and Jack Dorsey, as well as institutional investors like Vanguard Group.
Twitter’s success has made it one of the most influential social media platforms in the world, and its continued evolution and growth will undoubtedly be shaped by its ownership and management in the years to come.