s Twitter Inc’s chief financial officer planned the company’s initial public offering this year, he had one overriding goal: to avoid becoming the next Facebook Inc.
“They were really information and data hogs,” said one person who worked on the process. “They wanted a lot of different perspectives and to make sure that they did this right.”
In the end, Twitter made different choices from its rival social networking site. Facebook selected Morgan Stanley (MS.N) as its lead underwriter, while Twitter picked Goldman Sachs (GS.N). Facebook listed on Nasdaq, where trading glitches marred the initial hours of trading, while Twitter listed on the New York Stock Exchange.
Twitter made sure its shares were sold for a low enough price to attract strong interest and keep shares high in their early days of trading, after Facebook’s shares dropped in the days after its IPO.
That’s all well and good, and Twitter is still my home-away-from-blog. But Twitter’s big problem right now is conceptual, not financial. They’ve gone from being a simple and easy-to-use website to being a complex and more difficult to use web app. I have to keep four or five Twitter browser tabs going all once, just so I don’t have to constantly click through various levels to get to shortcuts which were once right there on the top level.
The clicks are too damn high — that’s why people drop in, check it out, then stop using it. This is just microblogging, fer cryin’ out loud. It ought to follow the KISS formula every step of the way.