Market fever for the social network

The year 2013 was a particularly good year for one year. The microblogging site with 230 million active users had successful review of its IPO on Nov. 7 . It has been known for a true market hysteria , the action ended , Thursday, Dec. 27 , the New York Stock Exchange at $ 73.31 , nearly triple its introduction value - 26 dollars (18.9 euros) .

Friday, December 27 , however, on the eve of some very hollow sessions before the new year , some have clearly chosen to " take profits ' share fell sharply , losing 13.04% and ended the session at 63 75 dollars. Publication on the same day , a note of Bank pointing a level judged as too high and believing that " nothing has changed in the past two weeks to justify the increase in recovery" has not helped.

Despite this bout of weakness , the capitalization of the company, founded in 2006 and is still based in the heart of San Francisco ( California ) , still reached more than $ 36 billion , or more than 60 times the number of anticipated by analysts for 2013 business . This makes just the most expensive Internet company in the U.S. markets . While she still has not posted a profit only !

For comparison , the capitalization of Facebook , the first social network in the world with 1.2 billion members , is only 13.5 times expected 2014 earnings. While the group is particularly profitable : in the third quarter of 2013 , it posted a profit of $ 621 million to just over 2 billion turnover.

In exchange, is now worth almost as much as Yahoo!, the Internet portal founded in 1994 , has certainly lost its luster but remains a top destination for surfers on the Web . Capitalization microblogging site also exceeds that of large companies such as Target distributor or cable operator Time Warner Cable. These three groups have nevertheless emerged in the third quarter between 300 million and 500 million dollars in profits .

Not only accounts are not in equilibrium but , worse , its losses widen quarter after quarter ( $ 69 million between January and June , against 79 million in all of 2012 ) . In fact, to support its exponential growth and withstand the intense competition lead him Google and Facebook , invests heavily in research and development and marketing. And the group hired. In the third quarter , its numbers have increased by 15 % to 2,300 employees. The first profits are not expected before 2016.