Twitter this morning signaled to investors that its founders and board still believe in the long-term value of the company, with news that CEO Dick Costolo, plus co-founders and board members Jack Dorsey and Evan Williams, as well as Benchmark Capital, have no intention of selling their shares of Twitter common stock. The news was revealed via a filing with the Securities and Exchange Commission, released this morning.
The filing’s timing comes just ahead of Twitter’s first major lock-up expiration date, on May 5th, which makes some 500 million shares of stock available (lock-up periods prevent large shareholders from selling stock immediately following an IPO). Twitter’s employees will also now have the chance to cash out and sell, and likely many will be taking advantage of that opportunity. But Twitter’s leadership has been taking steps to ensure its investors know that it’s in it for the long haul.
In September 2012, shortly before Facebook’s biggest…
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