Monday, October 21, 2013

Delivering a blow to the Nasdaq, which was accused of bungling Facebooks IPO, Twitter takes another route for its market debut.

Dara KerrDara Kerr, a freelance journalist based in the Bay Area Social Networking, is scinated by robots, supercomputers and Internet memes. When not writing about technology and modernity, she likes to travel to r-off countries.

Facebook is listed on the Nasdaq but it hasnt had a great experience with the exchange. In ct, on the first day of trading, technical glitches delayed the opening of shares causing an estimated $500 million in losses. The botched IPO also resulted in the Nasdaq having to pay $10 million to the US Securities and Exchange Commission to settle charges related to the errors.

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Twitter earlier this month anSocial Networking Twitter picks NYSE over Nasdaq for IPOnounced its plans to go public and goal to raise $1 billion. Its IPO date could be as soon as November 15 and the social network will reportedly use the ticker symbol TWTR.

While this doesnt make much of a difference to investors, it does deliver a blow to the Nasdaq, which is the home to most public tech companies, like Microsoft, Apple, Google, and Facebook.

Both the New York Stock Exchange and the Nasdaq have been courting Twitter to list the companys shares once it goes public. And it appears the social network has chosen a victor: the NYSE. The news comes via Twitters updated S-1 filing on Tuesday.

CNET contacted Twitter for comment. Well update the story when we get more information.

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