Ahh now that's the sort of info I was hoping someone would reply with. So the shares that made up the IPO offering came from newly issued stock, not from existi

Ahh now that's the sort of info I was hoping someone would reply with. So the shares that made up the IPO offering came from newly issued stock, not from existing share holders? That makes it all a bit less cynical to me since all it means now is that the investors are worth more on paper. They still have to actually sell some of their shares at some point to realise any profit and presumably it's not easy for them to sell large quantities quickly (i.e. they're in this for the longish haul and thus far haven't covered their losses to date with actual bankable money)? Would have been better in my book if they'd have waited until twitter at least turned a profit before going for the IPO but then I guess why wait if you're only plausible exit is IPOing and the banks are telling you the market will support it.