Thanks to the Twitter IPO paperwork filed this week there will be some more millionaires walking around soon, and one of them only invested $25,000 in the startup when it first began. But then again, Dick Costolo, who the New York Times said had just sold his own company to Google for big bucks back then, could afford the 25K down to get in on the Twitter action.
One of those who will not be raking in IPO benefits, however, is Dom Sagolla, who helped build the social media company, but who was laid off in 2006, according to the Times, when Twitter was struggling to make its mark. But that didn't stop him from creating this YouTube video in support of the Wall Street move by the 140 character company, replaying his Squawk Street interview in it. And while he expressed to the New York Times on Friday that he was "devastated" to see the company "come to life and have it taken away," back then, he went on to a measure of success on his own with DollarApp, which he sold to Rocketship according to this Dom Sagolla tweet on Sept. 14.
So what does it matter that the founders and investors in Twitter will now reap millions of dollars in return for their investment and blood, sweat and tears of labor? And that one of the main founders will not? And more specifically, what does it mean for you, as users?
As the Twitter creators and backers, with the exception of Sagolla, enjoy an influx of cash from investors looking to now get in on the social media's bandwagon, that will inevitably propel some of those dollars back into the company, resulting in even greater technological advancements and service. It is unfortunate that a co-founder like Sagolla will not share in that bounty as abundantly, but he will still share to some degree in the companies efforts in the financial investment effort, as he can still boast he "wrote the book" on Twitter, literally.
The perk for the average social media user in a fast-paced technological world is that Twitter will stay in operation, so we can continue to get the real-time updates that has lead to most rapid dissemination of information about some of the world's most important events. If everyone were still having to tune into a television station or radio program to hear what was happening when world events occur, then the issue would be which station? which program? and how long between the news occurring and the time it is vetted before we learn about it?
With Twitter it has been an instantaneous announcement from mere spectators at the scenes of some of the most war-torn countries who have informed us of breaking news. With this social media tool there is an even playing field among the news outlets and the people they inform. There is also the comfort of knowing that, at least as of now, news isn't being censored based upon a media outlet's owner's influence or company mission. And with the Twitter IPO in the works, that should help keep it that way.
Twitter Revolution Co-Founder Dom Sagolla: Photo credit: Sagolla's Photostream on Flicker