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Snapchat Files for IPO

Discussion in 'Article Discussion' started by Melody Bot, Feb 3, 2017.

  1. Melody Bot

    Your friendly little forum bot. Staff Member

    This article has been imported from for discussion. All of the forum rules still apply.

    Snap Inc., the parent company for Snapchat, has filed for an IPO:

    Snap today filed its S-1 paperwork with the Securities and Exchange Commission (SEC), triggering the process to go public. The company aims to raise $3 billion in the initial public offering (IPO) and will subsequently trade on the New York Stock Exchange under the symbol SNAP.

    The filing also discloses that Snapchat paid $158 million to their ousted co-founder Reggie Brown:

    As part of the settlement, Snap said it agreed to pay Brown a total of $157.5 million in cash, $50 million of which was paid in 2014 and $107.5 million of which was paid in 2016. The settlement ended up being much less than the $500 million Brown originally asked for.

    Snapchat has been arguably the most interesting new startup in years, now the question is: will it be the next Facebook and dominate or the next Twitter and struggle to find its footing?

  2. crunchprank Prestigious

    Never got on the Snapchat hype train myself. Twitter and Instagram are enough for me. Am I missing out much?
  3. Eh, personally I think Instagram stories are fine for me, but I do use Snapchat for things I know basically no one will see.
  4. Brenden

    Trusted Prestigious