Snap's IPO Prices At $17 A Share, 24B Valuation Exceeds Expectations
Snap has finally given a price for its IPO and it sets the company's valuation to about $24 billion. It's price per share is set at $17. The current IPO figures is more than the previously set range which was $14 to $16 and at a valuation of $19.5 billion to $22.5 billion. Snap's final IPO figures does exceed expectations considering some issues that the company has been criticized for.
Snap's Business Moves In 2017
IPO stands for initial public offering and it refers to the first time that the stock of a company is offered to the public. As for Snap, the company filed to go public early last month. It shows the rapid acceleration of the business' advertising which reached $400 million in 2016 from a $59 million figure just a year prior. As per CNBC, Snap will start trading Thursday of this week.
Nevertheless, the company also revealed that while it now has 150 million users who are active daily, the growth of that number is now slowing. Tech Crunch says that Snap executives alongside its CEO Evan Spiegel spent the past weeks meeting with investors from different cities. The Snap team pitched the company's stocks and gave clarifications regarding the spreading concerns.
Concerns Regarding Snap's Business
Snap's IPO figures somewhat exceed expectations considering some sort of concerns revolving around the business. As mentioned, user growth has already started slowing down. The company is also still a rising star. Additionally, there's also the issue regarding Snap's dependence on third-party services. Apparently, the company still relies and spends so much money on Google and Amazon for its cloud and web services needs.
Snap's IPO Investment Conditions
The thing about Snap's IPO is that the company sells non-voting share. This means that investors who are buying into Snap won't have any say on the company's direction. Investors will just be betting that Snap will continue to grow positively. Overall, Spiegel will still be the one who's in control of the company's future.
Snap Will Spend More Money In 2017 Than It Earned In 2016; Here's Why
Snap's recent filing shows how much money it will spend this year.
Snapchat Spectacles: Price, Features, Quick Review
The Snapchat Spectacles is a well-executed product from a not-so-brand new concept.
YouTube Gets One Billion Hours Worth Of Views Per Day
YouTube hits new milestone. People now watch one billion hours of YouTube daily.
Google Offered $30 Billion To Purchase Snapchat
Google floated an offer of at least $30 billion to buy Snapchat.
Miranda Kerr Marries Snapchat CEO In A Top-secret Ceremony In Los Angeles
Miranda Kerr and Evan Spiegel have finally tied the knot in a secluded ceremony attended by family and closest friends.
MORE IN ITECHPOST
Top 5 Ways to Make Your Skin Glow
Transforming your skin should not be a huge challenge. We've prepared some expert tips from dermatologists and other skin professionals. These tips will help you restore the radiant and healthy, natural glow on your skin. First appearances count, so take the time to study these tips and use the products mentioned. You'll find that maintaining that youthful glow is not a big deal.
Design Your Graphics Online with Appy Pie Studio!
Professional graphic design is often a challenge. To be good at graphic design, one needs to be proficient, have an eye for aesthetics and a pocket deep enough to buy outrageously unaffordable software.
Scientists Pinpoint Cause of Harmful Dendrites and Whiskers in Lithium Batteries
Team modifies electrolyte chemistry to prevent the piercing structures
Some of the Best Gaming Monitors of 2019 Everyone Would Want to Get their Hands on
Looking for a great gaming monitor that can give you the 4K experience? Here are the best choices this 2019.
4 In-Demand Professions That Pay Well In Canada
Canada is turning out to be an emerging place for fresh graduates and skilled people looking for jobs. Every year the ratio of unemployed people for every job keeps decreasing. This decline in the ratio is accredited to a lot of skilled professionals recently moving to Canada, more job vacancies and more opportunities.