gamesindustryblog.com
gamesindustryblog.com March 23, 2017


Snap Inc. set to price its IPO at $17 per share

02 March 2017, 12:44 | Muriel Sparks

Bobby Murphy 24 left and Evan Spiegel 22 co-creators of Snapchat. TNS

Bobby Murphy 24 left and Evan Spiegel 22 co-creators

While its app has proven immensely popular, there was some question as to how Snap would ultimately live up to its multi-billion dollar valuation and make investors money. While overall growth is projected to slow down by 2021, eMarketer is citing Instagram Stories as competition to Snapchat's user base.

Celia Schlekewey, a 20-year-old University of Washington student who also works at a small business, liked the fact that when she first joined, it was "all just about sending pictures to your friends".

"While Twitter has had nearly zero points of innovation in the last several years (Moments does not count), Snap is accelerating its pace of innovation, all while changing the way its users and content partners think about the platform and the future of communication and advertising", Cakmak wrote.

Facebook's Instagram last August added Instagram Stories, a close clone of Snapchat Stories.

Snapchat is expected to grow its US audience to 70.4 million by the end of 2017, according to a new report from eMarketer.

Snapchat, which had closed the gap on Instagram, will fall further behind in the coming years. "This year, Snapchat will capture 36.8% of U.S. social network users, compared with Instagram's 40.3%".

Trump Says "Nobody Knew Health Care Could Be So Complicated"
He said his members want to repeal the expansion entirely and offer health savings accounts to help that low-income population. Other GOP governors, including Rick Scott of Florida, have advocated a full repeal of the law.

The shares were more than ten times oversubscribed, Reuters said.

LaVon Murphy, 45, a photographer in Portland, Oregon, uses Facebook to keep up with friends, Instagram to express herself through pictures and Twitter to keep up with the news. The stock should go on sale on the New York Stock Exchange on Thursday, in what could be the largest technology IPO since Alibaba went public back in 2014.

Snap will formally price its shares sometime after trading ends today in a regulatory filing, but it looks like the company has settled somewhere near the valuation that was originally reported once it started the process of going public.

Snap had originally aimed to raise $3bn - the same amount Facebook offered the disappearing messaging for the whole company in 2013.

At that price, Snap would have a market value of almost $24 billion, making it the largest US tech IPO since Facebook (FB, Tech30).



Other News

Trending Now

AMD Unveils Cheap, Powerful Flagship Ryzen CPUs
We'll do our best! The new processors go on sale in March and are accompanied by a selection of motherboards from major partners. This is something we will need to test in due course! Like the 1700, the 1700X and 1800X both have eight cores and 16 threads.

Joel Embiid's knee injury remains swollen, will require another MRI
The third overall pick in the 2014 NBA Draft, Embiid sat out the entire 2014 and 2015 seasons while recovering from a broken foot. Embiid did not take part in Monday's shootaround after experiencing additional swelling in his left knee.

Off-Duty LAPD Cop Fires Gun During Altercation With Teens, Protests Erupt
It was at that point that the officer, with one hand still on the 13-year-old, reached into his waistband and pulled out a gun. The officer can be seen pulling the teen over the hedge as the person recording and other witnesses run away from the scene.

Sixers Jahlil Oakfor relieved that the National Basketball Association trade deadline has passed
For Philly , Nelson said that they "liked Anderson a lot and that he was the critical piece" for them in the deal. Yes, Anderson has been brutal at times for the Mavericks this season, but time will tell what he can turn into.

Wolfsburg appoint Jonker as coach
Ljungberg, 39, had also been working in the Gunners youth setup - as U15 manager - before being poached by Wolfsburg . Wolfsburg dispensed of previous manager Valerien Ismael on Sunday following a 2-1 home loss to Werder Bremen.

Mavericks waive point guard Deron Williams
The Utah Jazz are reportedly looking into a possible reunification with former All-Star point guard Deron Williams . Ferrell averaged 15.3 points per game and 4.6 assists, leading the Mavs to five wins in seven games as a starter.

Former All Black Ali Williams in Paris drug arrest
Williams, who played 77 Tests from 2002 to 2012, is regarded as one of New Zealand's finest, most athletic locks. A police source told Reuters that they were taken into custody and were expected to be held for up to 24 hours.

Samsung Group dismantles corporate strategy office
However, major business groups criticised the arrest, concerned about the impact on Samsung and, more broadly, on South Korea. The scandal has led exploding phone and washing machine maker Samsung to hit pause on some of its corporate operations.

Demonetisation effect: economic growth seen slowing to 6.1% in December quarter
NITI Aayog Vice Chairman Arvind Panagariya said: "I have been saying that the (demonetization) impact will not be large". The third quarter number GDP numbers are an important indicator of how the economy reacted after demonetisation.

Mets' David Wright is still injured. Is he done?
"What's happening here is that the muscles around the shoulder have not re-engaged since the surgery", Alderson said . While at the time the team didn't give a timetable for Wright to return, the surgery ultimately ended his season.