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More and more businesses are hopping on board as Twitter takes flight.

Twitter's Initial Public Offering (IPO) went off with a bang yesterday, with shares opening at the New York Stock Exchange at $45.10 and going past $50 before finally settling in the mid-$40s.

The IPO puts co-founder Jack Dorsey's net worth at as much as $1.2 million.

As Twitter revenue grows, so does their need for more data centers and more employees. This spring, Twitter opened a Tech Hub in Downtown Detroit at the Madison building. The new hub was one of several launched throughout the year, including locations in Washington, D.C., Cincinnati, Ohio, Austin, Texas, and Atlanta.

The company is currently valued at more than $31 billion. The IPO was the most anticipated since Facebook went public last year.

According to Ipsos, Twitter has 17 million active users globally, with the number increasing every day.

For those not yet on board and wondering about the business case for utilizing Twitter, here are just a few benefits:

  • Users are able to share their content at a rapid pace, with the overall goal of building brand awareness by “Retweets” and “Shares.”
  • More than 50% of people have learned about breaking news via social media rather than official news sources. The Bin Laden raid, Egyptian Uprising, protesters in Bahrain, and the royal wedding all broke on Twitter.
  • Share your content and others’ in order to gain followers, be known as a Thought Leader
  • Ask questions to your followers to engage in conversation
  • Reference others’ content to establish yourself or your organization as a primary focus
  • Excellent for outbound messaging
  • Great for establishing engagement
  • Highest viral potential – interaction is most important
  • Use for “sentiment monitoring” – how do people feel about your organization or message
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