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Snapchat Officially files for $25 Billion IPO.

Snap Inc., the parent company of Snapchat, has officially filed the paperwork to begin selling shares of their company to the public. Here’s the quick and dirty:

  • SNAP will be listed on the NYSE.
  • The company’s valuation is expected to be over $25 billion when it goes public.
  • March 2017 is the IPO target date.
  • Snap has 160 million daily users (growth slowed by 82% thanks to Instagram copying their key feature with Instagram Stories).
  • $400 million in revenue in 2016
  • Snapchat paid $114.5 million for mobile search engine Vurb.
  • The stock to be issued does not come with voting rights. Total control will be retained by company co-founders Evan Spiegel and Robert Murphy.

Hmmm not sure how I feel about that last point. Effectively the shareholders have no say in the management of the company.

What do you think? Will you be lining up to cop SNAP’s stock in March?

Martel

 

Meet the 5 Most Valuable Startups in America

5. WeWork

Valuation: $16.9 billion

Coworking startup

WeWork cofounders Miguel McKelvey and Adam Neumann

 

4. Snap

Valuation: $18.19 billion*

Formerly Snapchat, is a social media/camera company

CEO Evan Spiegel

 

3. Palantir

Valuation: $20.53 billion

Data-mining startup

CEO Alex Karp

 

2. Airbnb

Valuation: $30 billion

Home-rental startup

Product chief Joe Gebbia, CTO Nathan Blecharczyk, CEO Brian Chesky

 

1. Uber

Valuation: $68 billion

Ride-hailing startup

CEO Travis Kalanick

 

*Elon Musk gets an honorable mention. His aerospace manufacturing and space transport services startup, SpaceX comes in 6th place with “only” a $12 billion valuation. Poor fella.

Be inspired my friends, be inspired! Are you working on the next big thing? Hit me on the Gram.

Martel