Gamblers not waiting for Twitter IPO to bet on valuation
NEW YORK (REUTERS) - Though Twitter's first day on the stock market is probably still months away, a handful of international gamblers aren't waiting for the official debut and are already laying bets on how much the social media site will be worth.
Initial public offering (IPO) experts are floating a market capitalisation for Twitter of around US$10 billion (S$12.5 billion), but bettors on the Irish gambling site Paddy Power give the shortest odds to it closing with a market cap 50 per cent to 100 per cent above that.
On Friday, odds stood at 6-to-4 of Twitter ending its first day on the public market with total value of between US$15 billion and US$20 billion.
By contrast, Facebook Inc closed with a market cap of US$81 billion on its first day.