Today the Snapchat IPO has taken place, but it is not the only thing that has come out; Also many of the plans and controversies that he has gotten himself into in the last months.
The critical moment for Snap Inc is here; The company behind Snapchat, the one that started with a simple app that forgot what we shared and is now much more. It is a giant in the technology sector that has grown as much as it can.
If he wanted more than a curious service, he had to take the step he has taken today; But Snapchat’s IPO may also be her downfall, as many of those who failed before her show.
IPO of Snapchat, the startup that said No to Facebook
Yesterday, Snap Inc. raised about $ 3.4 billion in its initial public offering; at about $ 17 for each of the 200 million shares. This means that the company’s valuation is slightly below $ 20 billion, and well below the 24,000 million dollars that the company expected.
But today is the true moment of truth; when Snapchat goes through its first day on the New York Stock Exchange. At the opening, the share price has risen to $ 24 each.
BREAKING: $ SNAP shares open at $ 24 versus $ 17 IPO price pic.twitter.com/zy9WgFdseT
Reuters Tech News (@ReutersTech) March 2, 2017
For the moment, the young co-founders of the company got a good pinch by holding the majority of the shares, including its CEOEvan Spiegel, no less than $ 4.4 billion.
Snap Inc.s Evan Spiegel rings the NYSE opening bell. @Sna snapchat @Snap #IPO pic.twitter.com/5zj4l7AbQ0
Lance Ulanoff (@LanceUlanoff) March 2, 2017
It is ironic, because When Facebook made a purchase offer on Snapchat, the figure was $ 3 billion.s; Not everyone rejects Facebook and lives to tell about it, but for the moment it has worked out well for them.
Sure, it hasn’t turned out perfect. Throughout its short history, Snapchat has gotten into its fair share of scandals and problems; And this week, coinciding with the IPO, some of these secrets have come to light.
Snapchat would have blackmailed an NGO
According to leaked emails, a Snapchat representative attempted to blackmail the ONGEverytown for Gun Safety, dedicated to firearms awareness.
In early 2016, the NGO wanted to organize an event, and to promote it contact the Snapchat advertising team; however, at the same time the Snapchat editorial team contacted the NGO because they were interested in following up on the event, with famous guests.
To prevent the NGO from withdrawing the ads (for $ 150,000), the representative warned that they were negotiating withthe NRA, the National Rifle Association, to fill those gaps. Snap Inc. has not denied the existence of the emails, but believes that there was no blackmail.
Snapchat was preparing a camera drone
Snapchat was about to get into the drone craze, according to The New York Times. In fact, the company’s engineers went on to make a functional prototype with a camera.
Of course, the photos we took with the drone will be automatically uploaded to Snapchat. At the moment these experiments do not seem to end in a commercial product; But it is a sample of how the company continues to explore new lands that give it income.
Snapchat nearly sold a 360-degree camera
Virtual reality and 360 content is another of the terrains explored by Snapchat. Specifically, the company not only wants to offer content for virtual reality glasses, but also create it.
To do this, he investigated the manufacture of a 360-degree camera, which was small and easy to use; the goal will be that anyone could create original content. In that sense, it won’t be much different from Nokia’s OZO, for example.
As you can see, Snapchat is giving a lot to talk about. Many stories, some good and some not so good, are suddenly appearing; Snapchat’s future depends on these and other stories that we will tell in the coming months.