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Twitter picks New York Stock Exchange to list stock, a blow to Nasdaq

October 15, 2013|By Andrew Tangel and Jessica Guynn
  • A mounted police unit stands guard in front of the New York Stock Exchange last year as several hundred protesters take part in a march through the financial district of New York.
A mounted police unit stands guard in front of the New York Stock Exchange… (Carolyn Cole / Los Angeles…)

NEW YORK -- Twitter Inc. has found a home on Wall Street: the New York Stock Exchange.

The micro-blogging juggernaut's choice to list its soon-to-be-public stock on the Big Board is a blow to the Nasdaq Stock Market, which fumbled the debut of Facebook, last year's hot tech IPO. Twitter disclosed its pick in a securities filing late Tuesday.

Twitter is seeking to raise $1 billion in the offering, on track to take place next month.

Although investors may care little where the company lists its stock, Twitter's choice nonetheless carries high stakes for the country's two largest exchanges.

“This is a decisive win for the NYSE," NYSE Euronext, the exchange operator, said in a statement. "We are grateful for Twitter’s confidence in our platform and look forward to partnering with them."

Twitter declined to comment.

Nasdaq, whose chief executive, Robert Greifeld, recently visited Twitter's San Francisco headquarters, said not even enough to fill a 140-character tweet.

"All of us at NASDAQ wish Twitter well as they pursue their initial public offering," the exchange said in a statement.

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