| | | Speaking of SNAP.... does anyone get how it deserves a $24B market cap? The kids loved Pokemon Go for awhile....
from what I've seen, the best I can see for SNAP is it is an electronic coloring book that lets you share then have the stuff you share vanish before your parents, teachers or police can see it.
This seems like a good time to go public.... feed the fish and get out to do something else.
- It lost more than $500 million last year, and its explosive user growth appears to have hit a speed bump.
Snap Prices I.P.O. at $17 a Share, Valuing Company at $24 Billion
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Investors, attracted by Snapchat’s hold on its millennial users — who check the app on average more than 18 times a day — flocked to the initial public offering, pushing the parent company, Snap Inc., to a valuation of nearly $24 billion.
The stock sale sets Snap up as the most valuable American technology company to go public since Facebook nearly five years ago. And it may herald a coming wave of unicorns — technology start-ups valued at more than $1 billion by private investors — that are expected to hit the public markets in the next few years.
Snap’s offering was priced on Wednesday at $17 a share — a dollar more than the previously expected pricing range. The pricing came on a day when the stock market surged to another high, fed by raised expectations of tax cuts, looser regulations and higher interest rates under the Trump administration. Shares of the social media companies Facebook and Twitter also rose.
Those buying into Snap’s offering did so even as warning signs have flashed over the company, based in California. It lost more than $500 million last year, and its explosive user growth appears to have hit a speed bump. And in a decision that has angered some large investors, the shares will have no voting rights, leaving control in the hands of the company’s founders, who can retain that power for years even after leaving Snap.
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but what do I know, I'm an old phart now compared to that demographic! |
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