Twitter's hot IPO first-day trade went smooth for the company with shares hitting 50 dollar mark before closing on 44.90 dollars; however, it was even smoother for some of the company's execs and investors who got paid a lot.
The company, trading under the New York Stock Exchange, outperformed its target price of 26 dollars per share and hit 45.10 dollars at the opening bell, and in result stuffed the wallets of quite a few techies and early investors associated with it.
According to Mashable, one of Twitter's co-founder Evan Williams, got largest payday outside of the venture capital firms, amounting to 2.56 billion dollars, while the company's largest shareholder Rizvi Traverse Management made a whopping 3.82 billion dollars.
Rizvi Traverse also has Facebook, Square and Flipboard in its portfolio.
The report said that Spark Capital and general partner Bijan Sabet invested in Twitter back in 2008, and hold 6 percent of the company's shares after IPO amounting to 1.46 billion dollars.
Peter Fenton of Benchmark Capital got 1.42 billion dollars, owning 5.8 percent of Twitter.
More From This Section
Former CEO and current Twitter chairman, Jack Dorsey got 1.05 billion dollars, but CEO Dick Costolo, who joined the company in 2009 and having 1.4 percent stake in the company got a payday worth 345 million dollars.
Meanwhile, Adam Bain, President of Global Revenue, who joined Twitter in 2010, got 80 million dollars.
The report added that the executive team and early shareholders are required to hold the stock for at least 180 days following the IPO, which suggests that these earnings are subject to change.