Costolo, 49, has been a steady hand at the helm of Twitter, as he turns the company from a way to share thoughts, news and funny remarks into a media powerhouse. According to research firm e-Marketer, the San Francisco-based Twitter is expected to generate $582.8 million in advertising revenue this year, and close to $1 billion 2014. Costolo is responsible for keeping the perception of the company high, as brands look to the service to advertise to consumers.

Costolo will do what he can to make sure that Twitter doesn't suffer the same market cap drop that happened to Facebook. Part of that decision will be choosing what exchange to put its listing on.

The Nasdaq will eventually recover from this, as CEO Bob Greifeld continues to make the media rounds, informing people that the right precautionary steps were taken. However, this is another blow to the reputation of the exchange itself, and that recovery may not come in time for the Twitter IPO.

-- Written by Chris Ciaccia in New York

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