Our product infrastructure for mobile testing suites. Well continue to make those investments in the growth of the core business for the foreseeable future. Were investing for the long term. We think this is a longterm company, a company that for which there is a fantastic use case for every person on the planet. Julia boorstin joins us now from san francisco. Julia, it was a great interview. Now, walk us through whats happening with the ipo as of right now. Well, abby, as you mentioned, twitters only been publicly traded for a couple of hours, but its already had a massive run. It opened over 70 higher from where it was priced last night at 26 per share. Now its trading in the mid40s. At one point soon after it started trading, it even hit 50 a share. Now, its worth keeping in mind that that 50 or that 46, thats up from an already raised pricing range. The stock keeps on getting pushed up and up. Twitters current evaluation is bigger than 337 companies in the s p 500. Its also bigger
private universities. stanford, harvard, et cetera. it doesn t need another one. it needs great public adversity. up until this year, he was chancellor of uc berkeley, addressing how to run a research university when state funding is plummeting across the board, how to retain quality professors to support students who can t always afford today s tuition, and draw funds from donors and corporations without sacrificing the university s mission. that s all part of the picture that emerges in a new documentary from fredrick weisman. his newest work premiers tomorrow. the first question is simple. the movie shows a campus trying to undergo a fairly big cultural transition. how hard is it to change a culture like that?
well, i m no expert in cultural change. but what i saw at berkeley was an administration that was using their intelligence and sensibility sensibility to maintain the high standards and integrity of a great american university in the face of a very severe economic crisis. and certainly from what i saw they were succeeding in their efforts to have an excellent student body, a diverse student body, and to continue offering lots of scholarships to low-income students and trying to do something about finding money for middle class students whose families were squeezed as a result of the economic problems in the country. and, fredrick, how much do you think of what you saw at berkeley is going on at public universities across the country? well, that s certainly my
0 content like that they have on the service, the more valuable it will be for users and the more ads it will be able to show and more revenue down the line. all right, julia. great to see you. thanks so much. for more on twitter in 140 characters or less is business insider josh barrow. i m joking about the 140 characters. that s only for ari. i m up for a challenge. we know you are. but seriously, we need you to fill more time. twitter s ipo has seen a huge price hike. some might call that doing business in the open market. others are a bit more skeptical, including yourself. this is what you tweeted when an ipo is drastically mispriced like this, why don t the investment bankers involved in the pricing all get fired? josh, what s going on here? well, so the twitter ipo is priced at $26 a share, which is the price the insiders who got early access to the shares paid. all of the sudden today it s trading around $45 a share. that means the insiders at twitter who sold about 1