In the latest piece of evidence that the advertising world once dominated by Mad Men creatives is giving way to one owned by technology and analytics gurus, a social media network in its first day of public trading is now as valuable as the world’s largest advertising services holding company.
In a note sent to investors this morning, Pivotal Research Group senior analyst Brian Wieser wrote that at a price of $US45 per share, Twitter is worth about $US30 billion. That’s nearly the same valuation as the $US35 billion market capitalisation of the combined Publicis Omnicom Group, which will become the biggest advertising company in the world once the proposed merger is cleared by regulators. POG will have combined revenues of $US23 billion. Twitter will have annual revenues of somewhere around $US600 million this year.
Twitter began trading today at $US45.10 and is currently trading at $US45.18.
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