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Leaked emails put spotlight on Snapchat sales tactics
Everytown for Gun Safety, a gun safety and gun control nonprofit backed by former New York City Mayor Michael Bloomberg, faced an awkward decision while working with Snapchat last year, according to leaked emails obtained by Mic. Everytown was collaborating with the Snapchat news team on a “Guns in America” Live Story tied to National Gun Violence Awareness Day. This… Read More
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Snap values itself at nearly $24B with its IPO pricing
Snap has given a final price for its IPO, setting the company’s valuation at nearly $24 billion with a price of $17 per share, according to a report by The Wall Street Journal. With that, it looks like Wall Street had plenty of appetite for Snap despite multiple major concerns about the company’s business. Slowing user growth, rising burn and a dependence on Google and Amazon for… Read More
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Five burning questions that Snap’s IPO is about to answer
Snap will begin publicly trading tomorrow, which means that it will officially give a price for its shares in its initial public offering this evening. Originally setting a range between $14 and $16, the company set its own valuation lower than what tech observers might have expected, given the hype of the first big tech IPO of 2017. Read More
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Snap explored selling a 360 camera
What comes after Spectacles for the “camera company”? Snap has explored 360 cameras as a future product, according to three sources familiar with the matter. Snap brought in a camera developer with expertise in 360 cameras and stereoscopic cameras to pitch the company potential hardware options. Read More
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Snap reportedly looked at drones as a product option
Snap’s camera company ambitions included exploring drones as a possible product line, according to a new report from the New York Times. The drone plans would’ve given users the potential to take photos and videos from an eagle-eye perspective to share on Snapchat, its social network, and would’ve offered another hardware option alongside Spectacles as a way to help users… Read More
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Hanging out at Snap’s unremarkable IPO roadshow
One of the remarkable things about the roadshow presentations for hotly-anticipated IPOs — where they’ll make a pitch to investors and answer questions — is that they are often unremarkable.
That seemed about the same case for Snap, which was presenting to potential investors at the Mandarin Hotel in New York this afternoon. Over lunch, a packed ballroom 30 stories up at… Read More
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Snap starts selling Spectacles online in the US for $130
Snap wants to prove to investors in its upcoming IPO that Spectacles can earn money for its business, not just be a brand stunt. So today, Snap begins selling its video-recording sunglasses Spectacles openly online for $129.99 in the U.S. at Spectacles.com. Why Snap would lowball its IPO valuation
The short answer for why Snap lowballed its initial valuation for its initial public offering is that it probably won’t be that low for long. Normally these prices are set by expectations the underwriters and executives can divine from their conversations with Wall Street. It’s essentially a matching game — how does Snap and its underwriters figure out where to price the… Read More
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Snap will reportedly file publicly for its massive IPO late next week
Snap — the makers of Snapchat — had confidentially filed for its IPO late last year, but it looks like we’ll be getting a look at the inner guts of the company’s financials and workings as early as late next week. The company will file publicly for its initial public offering late next week, according to a new report from Kara Swisher over at Recode. This is yet… Read More
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Sony Entertainment CEO Michael Lynton is now Snapchat’s chairman
Michael Lynton, the CEO of Sony Entertainment, will be stepping down from the company in order to serve as chairman of Snap (the makers of Snapchat), according to The Hollywood Reporter. Lynton’s name may sound familiar with respect to Snap. During his time at Sony Entertainment, he oversaw the company suffer a massive breach — which also included a trove of leaked emails… Read More
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