Twitter has announced its much anticipated IPO price at a hefty $26 a share.
That’s above even the high-end estimate of $23 to $25, which was itself a sizable increase from the starting range of $17 to $20, and even at those lower numbers Twitter’s would have been the biggest tech IPO since Facebook went public for $38 a share in 2012. After the IPO the company will have raised $1.82 billion. Twitter will be valued at $14.16 billion.
At this price a number of people will become very, very rich. First among them is Twitter co-founder Evan Williams, who is soon to make a cool $1.48 billion. Next down the line is Peter Fenton, who’ll be worth $820 million, TechCrunch reports.