Snapchat is growing up, files for IPO

Maxine SotoFeb 03, 2017

That offering, in 2014, raised nearly $22 billion.

Currently, it is not clear how this augmented reality feature will interact with Snapchat.

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

Two suspects in custody after Quebec Mosque shooting
Twelve others sustained minor injuries, according to a University of Quebec Hospital Centre spokeswoman. Police have not said which of those two people is now considered the suspect, according to the AP.

In its filing, Snap said, "Although other US -based companies have publicly traded classes of non-voting stock, to our knowledge, no other company has completed an initial public offering of non-voting stock on a USA stock exchange".

Snap suffered losses of $515 million in 2016, up from a loss of $373 million the year before.

The company, which describes itself in its IPO registration as a "camera" company, said 158 million people use Snapchat daily. The Los Angeles Times also points out that the Snap Inc. Class B shareholders have one vote per share and Class C shareholders have 10 votes per share. Snap's founders will keep control as the company plans to only sell non-voting shares. "Our board of directors approved the award to Mr. Spiegel in July 2015 to motivate him to continue growing our business and improving our financial results so that we could undertake an initial public offering, which we regard as an important milestone that will provide liquidity to our stockholders and employees". In short, this user base, because of its age, is less sticky. While the Lenses are pretty cool and do attract users who come to Snapchat to use them, Snap is about to open up the technology for advertisers.

Toyota loses top-selling automaker crown in 2016
Toyota could face a tricky 2017 in the U.S. with pressure from President Donald Trump over its plans to build a plant in Mexico. It is a notable achievement for the company which sold 10.3 million automobiles last year, up 3.8 percent from a year earlier.

What's more, it's presumed that those advertisements can be configured and targeted based on user data.

The syndicate is composed of Morgan Stanley, Goldman Sachs, J. P. Morgan, Deutsche Bank, Barclays, Credit Suisse, and Allen & Company.

Snap also acknowledged that while daily active users rose 7% in the third quarter, user growth was "relatively flat" in the latter part of this quarter.

Cummings: Pro Bowl has run out of ideas
Elliott seems like a good bet to take part in the relay event, based on his excellent track and field skills. Of course, one year I remember watching quarterback Mike Boryla play in the Pro Bowl.

Related Articles:



Next article »


Popular Pages

Economy grew just 1.9 percent in fourth quarter
Widening trade deficits sliced off 1.7% from GDP growth in the 4Q after adding 0.85% in the 3Q. That compares unfavorably to 2.6 percent in 2015 and 2.4 percent in 2014.

Oscar-nominated actress Emmanuelle Riva dies at age 89
But Jennifer Lawrence won the Academy Award for best actress that year, as a young widower in "Silver Linings Playbook". Riva never married or had children, but she is survived by an incredible legacy of films throughout her career.

Denver radio station owner Entercom to take over CBS Radio
After the merger, the new company will be known as Entercom and will be led by Entercom president and CEO David Field. CBS stockholders can exchange all, some or none of their CBS shares for CBS Radio shares.

India freaks out over USA plans to change high-skilled visas
The US issued more than a million visas to Indians in 2016, which accounted for 70% of all H1B visas issued worldwide. Currently, the cap on H1B visas stands at 65,000, out of which 25,000-35,000 are issued to Indian nationals.

Jeff Sessions faces Senate vote for role of attorney general
The American Civil Liberties Union called for Democrats to protest Trump's nominations until the executive order is rolled back. He said he would abide by Supreme Court decisions on abortion rights and legalized same-sex marriage, although he opposes both.

Universities denounce Trump's Muslim ban, advise affected students not to travel
As of last fall, the five University of Minnesota campuses had a combined 125 students from the seven affected countries. She says, now, their focus is on reassuring affected students that the University of Dayton is an inclusive environment.

DeVos Clears Committee With Zero Democratic Votes
Which is to say that, despite fiery opposition from Democrats and teachers' unions, DeVos appears to be headed to confirmation. DeVos' nomination now moves to a full Senate vote for which a date has not been set.

Israel approves construction of 3000 new housing units in West Bank
All settlements in the Israeli-occupied territories are considered illegal under global law, though Israel disagrees. The settlements are considered by most countries to be a major obstacle to a peace agreement with the Palestinians.

Stable govt in Punjab necessary for Country's security: PM Modi
Modi said AAP's argument against same day polls in Goa and Punjab is just an excuse for defeat. He will campaign in Rampura Phul, Talwandi Sabo and Bathinda Urban, besides Majthia on Friday.

Copa del Rey-Draw
Deportivo Alaves , Atletico Madrid , Barcelona and Celta Vigo are the four teams left remaining in the competition. Atletico Madrid overcame Eibar 5-2 on aggregate to book their place in the semifinals for the 31 time.