Business

Snap has officially filed for an IPO

Snap has officially filed for an IPO

The company is said to be valued at $20 billion to $25 billion, and is looking to raise $3 billion in the offering.

As is the case with many Silicon Valley companies, Snap also said that it will have a dual-class share structure, and said that its Class A shares - which are not entitled to vote on matters submitted to shareholders - are the only ones being offered in its IPO.

Snapchat always keeps a steady rotation of lenses available to users, and a new report from the Information indicates the company is moving beyond just making lenses for faces.

As previously reported, the company will list its shares on the New York Stock Exchange.

But it's clearly much more than that. But Snap is better known than the e-commerce company, drawing comparisons instead to the IPOs of Facebook (FB) and Twitter (TWTR).

If the stock performs well, Snapchat's IPO could encourage other billion-dollar tech startups to go public.

Liberals and Democrats welcome EU-Mexico trade talks
You know what the F is for, right? "Not just free trade. free and fair trade . because its very unfair", the president repeated. Trump says he doesn't care if "it's a renovation of NAFTA or a brand new NAFTA", as long as it's fairer for USA workers.

A $750 million bonus is a very nice pay day for a normal person, but Spiegel isn't a normal person: Even without the bonus, his 22% stake in Snap would be worth about $5.5 billion.

At the top of its filing, Snap identified itself not as a social media platform - as it is often described in the press - but as a camera company.

Snap had quietly filed its papers with the Securities and Exchange Commission late a year ago, since under the JOBS Act, a company making less than $1 billion annually in revenue can do so.

Snap makes money from an eclectic mix of sources, ranging from traditional video ads and sponsored location-based filters to physical products like smart sunglasses sold out of smiling vending machines and ice trays sold on Amazon (AMZN, Tech30). Year-over-year, it grew DAU by 46 percent.

Global user growth slowed sharply in late 2016, according to the SEC filing.


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