Snapchat filed public offering on New York Stock Exchange. They chose their ticker symbol ‘SNAP‘. The company is confident about a benefit of $3 billion and has claimed about 158 million active users daily. IPO would rate the company above $20 billion.
Snap Inc. recently declared itself as a camera company. It no longer wanted to just remain an application developing company. The very innovative video recording sunglasses by Snap Inc. were a big hit.
If sources from the company are to be believed than the ad business of the company is accelerating with $58.7 million revenue for 2015, and growing to $404.5 million in 2016.
In addition to the revenue generated, it also has suffered losses. Snapchat lost $372.9 million in 2015 and $514.6 million in 2016, which was more than its total revenue.
Snapchat has a really tough competition with Instagram. The increasing popularity of Instagram may damage Snapchat permanently.
Unfortunately all went in-vain, Instagram copied the ‘Snapchat Story’ feature and has added it to their platform. They named it ‘Instagram Stories’, to the surprise this was a huge success. Now Facebook has copied this story feature for Messenger.
According to experts the Snapchat stories are not so successful if compared to Instagram stories.
The founders will sit together to decide about the celebrities not using snapchat more often. The celebrities seem really active on Twitter, Instagram and Youtube.
“Our two co-founders have control over all stockholder decisions because they control a substantial majority of our voting stock,” Snap said in its S-1 filing. “The Class A common stock issued in this offering will not dilute our co-founders’ voting control because the Class A common stock has no voting rights.”