NEW YORK, March 3, 2017: The company behind Snapchat is trading sharply higher in its Wall Street debut.
Snap Inc. jumped $7, or 41 percent, to $24 a share.
It had priced its initial public offering of 200 million non-voting shares at $17 each on Wednesday. That’s above the expected range of $14 to $16.
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Snap’s IPO is one of the most anticipated for a technology company since Twitter’s in 2013. That, in turn, had created the biggest stir since Facebook took its first bow on Wall Street in 2012. Twitter is now valued at $11 billion, while Facebook is $395 billion. Snap’s pricing valued the Los Angeles company at $24 billion.
Snapchat is best known for disappearing messages. It’s popular with young people, but growth has slowed down in recent months. (VOA)
Giving its over 336 million users more control, Twitter has announced that it will completely revert their timeline into a pure reverse chronological feed.
The micro-blogging platform in 2016 announced that it will only show “most important tweets” and stop the most recent tweets first which irked many users.
In a series of tweets on Tuesday, Twitter announced that in the coming weeks, it will start testing a “way to switch between a timeline of tweets that are most relevant for you and a timeline of the latest tweets”.
“We’ve learned that when showing the best Tweets first, people find Twitter more relevant and useful. However, we’ve heard feedback from people who, at times, prefer to see the most recent tweets,” said Twitter.
“Our goal with the timeline is to balance showing you the most recent tweets with the best tweets you’re likely to care about, but we don’t always get this balance right,” it added.
This is how it will work.
Flip on the feature in your settings from the iOS or Android Twitter app.
When you open Twitter after being away for a while, the tweets you’re most likely to care about will appear at the top of your timeline — still recent and in reverse chronological order.
The rest of the tweets will be displayed right underneath, also in reverse chronological order, as always.
“At any point, just pull-to-refresh to see all new tweets at the top in the live, up-to-the-second experience you already know and love,” said Twitter.
“We’re working on making it easier for people to control their Twitter timeline, including providing an easy switch to see the most recent tweets,” said Twitter Product Lead Kayvon Beykpour.
Twitter has updated the “Show the best Tweets first” setting.
“When off, you’ll only see tweets from people you follow in reverse chronological order. Previously when turned off, you’d also see ‘In case you missed it’ and recommended tweets from people you don’t follow,” it noted. (IANS)