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Snaphat the Latest Social Media Network to Go Public

By Nick Poling / Published on Friday, 03 Feb 2017 22:29 PM / No Comments

Snap Inc, the parent company of the Snapchat app, is going to become a publicly traded company as Snap filed for IPO on Thursday, February 3rd 2017. Snapchat is the popular disappearing photo app that is all the rage with business, celebrities, and millennials alike. The app was first promoted as an app for “certified bros” by its CEO Evan Spiegel. Originally, Evan and his co-founders targeted frat friendly publications to get the word out about the app. Snap did settle with an ousted founder, Reggie Brown, who originally came up with the idea of disappearing photos in 2014 for 157.5 million dollars.


Snap filed for a 3 billion dollar IPO, but was seeking a 25 billion market valuation. At the close of today’s bell Snap stock is selling for $169.78 a share with it’s highest selling point at $181.73 and a low of $133.09. Its current market cap is 9.69 billion dollars with a P/E ratio of 18.3.

Snap had a net loss of $514.6 million in 2016 up from $372.9 in the previous year. Snap Inc revenue from 2016 was $404.5 million compared to $345.8 in the previous year. Average revenue per user is $1.05 up $0.31 from the previous year.

The social media platform boasts about 158 million daily users and captures about 2.5 billion snaps a day. Social Media influencers also make more money on this relatively new platform compared to the dynasty platforms like Twitter and Facebook. Snapchat is also more heavily used by iPhone users than android users.

This stock will definitely be one to watch, many social media experts have been watching it closely for the past couple of years. The growth and scope of the platform has lead to closer looks at celebrities, unique insights into big brands, and many “dude bro” moments.

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Sources: Business Insider(1) Business Insider(2) Market Watch Fortune SEC Filing

About Nick Poling

The Nick is an old millennial at the ripe age of 34. Grew up in projects of the greater Seattle metropolitan area listening to mostly R&B, rap, and hip hop music as a youth. He finished High School in Baltimore County where he was introduced to punk rock and political activism. After High School he travelled the country hopping trains and hitch hiking spending time at various protests, rainbow gatherings, and similar events during his travels. This experience gave him great insight into various points of view and walks of life. The Nick is currently married and a father of four residing in Fort Worth, Texas. He is an avid gaming fan, and tech aficionado. His views have changed over the years from a wide eyed idealist to a pragmatic libertarian leaning independent who values freedom of choice and truth.