
Guest Speaker: Nina Zipkin “20 Crazy New Things We Learned About Snap”
The maker of Snapchat, expected to be valued at more than $20 billion, revealed its inner workings for its IPO.
After months of speculation, Snap Inc. filed yesterday for a $3 million IPO on the New York Stock Exchange. When the company officially goes public in March, it is expected to be valued at more than $20 billion.
Founded in 2011, the maker of messaging app Snapchat and Spectacles (sunglasses that record video), is known for being pretty opaque in its business dealings.
But this move now requires the previously mysterious company to submit financial details and its plans for the future with the U.S. Securities and Exchange Commission, so that potential shareholders have the information they need to make decisions about the company’s stock.
Read on for the 20 facts we learned about Snap from its SEC filing.
1. The company’s ghostly logo makes a lot more sense given Snapchat’s original name. In 2011, the app was named Picaboo.
2. The first advertisement on the platform was for the film Ouija in 2015.
3. An average of 158 million people use Snapchat every day.
4. More than 2.5 billion Snaps are created daily.
5. Users spend an average of 25 to 30 minutes on Snapchat every day.
6. All of the company’s revenue comes from advertising.

7. At the end of 2016, Snap had revenues of $404.5 million but the company had a net loss of $514.6 million.

8. While Snapchat is wildly popular today, founders Evan Spiegel and Bobby Murphy admit that they “anticipate that the growth rate of our user base will decline over time.”

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