twitter has successfully launched the highly anticipated ipo initially priced at $26. remember that? it s a little different. willie and i said it was going to be big. shares jumped 73% opening at $45.10. it remained around that level for the day before closing just under $45. by the closing bell, it raised over $2 billion moving market value around $25 billion. all of which was extremely good news for the man running the company. chairman jack dorsey is now a billionaire on paper. evan williams worth other $2.5 billion and the crow has a $345 million stake in the company. give you perspective on that. they got close to 30 billion, the same value of kraft foods. it is just stunning. this company now turned a profit and has the eyeballs.
he was set up. in his defense. twitter has successfully launched the highly anticipated ipo initially priced at $26. it s different now. we said this was going to be big. shares jumped 73% opening at $75.10. it remained around that level before closing under $45. by the closing bell, twitter raised over $2 billion with a market value of around $25 billion. all of which was extremely good news for the man running the company. jack dorsey is now a billionaire on airplane. evan williams worg over 2.5 billion and ceo dick costolo has a million stake in the company. that s the same as kraft foods. it is stunning this company
twitter says they have 230 million users. they were priced at 26 bucks a share but then when the stock opened around 10:45 yesterday morning it skyrocketed to $45.10 a share. at one point in the trading day, it hit more than 50 bucks a share. then it came down at the end of the day and closed just under $45. but this is what really amazes me. that valuation at $45 it values twitter at $25 billion! that is more than a lot of established companies like hershey and like alcoa and tiffany s and delta it s valid at more than that. even more than netflix. that is an outstanding number. this in all regards a monster debut. made a lot of people not us, really rich. cofounder of twitter $24.6 billion his stake.
filing made a point of saying that the four more years tweet from the obama campaign last year, the picture of the president and first lady embracing was the most tweeted tweet ever on twitter. it is also interesting today to look at who is profiting off of twitter. it s the institutional investors who got to buy at $26 and opened at $45.10 and that s right around where it s trading now. steve kornacki are you bog to be buying stocks? i have a long-standing policy. i do not believe in buying stocks, savings accounts and super bowl bets, those are my that s my investing strategy. i have one in my life i made $9 in the stock market. when i graduated college grandma gave $300 to her stockbroker. she said, i can t have the money, i had to invest. i called the stockbroker, northern utilities.
a share after opening this morning at $45.10. the opening price was already 73% above the initial public offering price set last night at $26 a share. this morning twitter executives rang the opening bell at the new york stock exchange. investors are betting that twitter is destined to become wildly profitable, although it s never turned a profit in its seven years of existence. here s twitter s ceo on that. there s nothing structural about twitter that prevents us from having the kinds of margin profiles of our peer group. we are investing for the long term. we think this is a long-term company, a company that for which there is a fantastic use case for every person on the