NYSE began wooing Twitter 2 yrs. ago to gain IPO assignment

Last Updated: Fri, Sep 27, 2013 18:40 hrs

The New York Stock Exchange reportedly began wooing Twitter nearly two years ago, for the microblogging site's coveted IPO listing assignment.

The NYSE has been paying for sponsored tweets in order to build its brand and those of its publicly listed clients since November 2011.

An NYSE spokesman said that the exchange has had a positive experience as one of the thousands of companies using Twitter, the New York Post reports.

According to the report, forming alignment with Twitter may give the NYSE an edge over rival Nasdaq who handled the glitch-filled Facebook IPO in May 2012.

The NYSE also has an edge over Nasdaq over the number of followers as it has 370,000 followers versus 234,000 for Nasdaq, including two different accounts.

It is speculated that the NYSE will get Twitter's assignment as the microblogging site tries to avoid the fate of Facebook.

The report added that NYSE gained a whopping 81,000 Twitter followers in the week leading up to Twitter's announcement it had filed for an IPO. (ANI)

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