Snap Inc (SNAP. N), owner of the popular messaging app Snapchat, set a lower-than-expected valuation range on Thursday, amid mounting investor concern over its unproven business model, slowing growth and tight founder control. The company, which filed for an initial public offering earlier this month, was widely expected to be valued at between $20 billion … Read more
Snapchat’s corporate parent seeks to raise more than $2 billion for the fast-growing social media group in the tech sector’s largest public offering in nearly three years, documents filed Thursday showed. Outlining the financial details of its initial public offering (IPO), Snap Inc. said it expects net proceeds of some $2 billion. It will offer … Read more
The company said in a filing on Thursday that it expects to raise as much as $3.2 billion in the IPO Snap Inc, the owner of the popular messaging app Snapchat, set a valuation of between $16.20 billion and $18.52 billion in its initial public offering, significantly below expectations. Snap, which filed for its IPO … Read more
Snap, owner of the Snapchat messaging app popular with teenagers, is to sell its shares on the US stock market. The California-based tech firm, which allows users to send images and messages that vanish within seconds, is set to be one of the major US share listings of recent years. The flotation is expected to … Read more
Michael Lynton is stepping down from his position as CEO of Sony Entertainment, the film, television and music conglomerate, to serve full-time as chairman of the board of social-media power Snapchat. The move, announced Friday in an email by Lynton to Sony staff, will happen in six months. It is unclear who will replace him. … Read more
Sony Entertainment Chief Executive Michael Lynton will step down to become chairman of the board of messaging app owner Snap Inc, a move that puts an experienced Hollywood executive in a prominent role as the technology company prepares for an initial public offering. Lynton will give up his current position at Sony’s movie and television … Read more
App notifications—they’re bad! But app notifications that are basically advertisements? Actually the worst! The notification—which you might’ve received on your phone Thursday—is an open invite to explore Messenger’s not-so-well-advertised snapping features. Open the app, and you’ll see a circle at the bottom of your screen, emblazoned with “2017”: Tap that and Snapch—er, Messenger’s photo and … Read more
Messaging app Snapchat is buying Israeli augmented reality startup Cimagine Media for an estimated $30-$40 million, marking Snapchat’s first acquisition in Israel, the Calcalist financial daily reported on Sunday. Cimagine developed True Marketless Augmented Reality – technology that allows users to virtually place furniture and appliances they wish to purchase in the space of their … Read more
Actor turned politician, and then actor again John Dumelo seems to have recovered quite well from his party’s defeat in 2016 general elections, and this hilarious video proves it. If you love social media, then you’re probably family with the absolutely amusing Snapchat filters that have turned the internet all high and crazy. On his … Read more
Snapchat may be banned in China, but that isn’t stopping the messaging app’s parent company from building a toehold in the world’s most populous country. Snap Inc. says it has opened a technology office in the southern city of Shenzhen to focus on Spectacles, the startup’s camera-equipped sunglasses that can send footage to users’ Snapchat … Read more
Snap, the parent company of messaging app Snapchat, has filed to list on the US stock market, according to several reports. Based on investments so far, the California-based firm would be worth between $20bn and $25bn (£16bn-£20bn). That would make it the largest US flotation since Chinese e-commerce giant Alibaba listed two years ago. Snapchat’s … Read more
Snap Inc, the owner of messaging app Snapchat, has moved a step closer to listing its shares on the stock market after settling on which banks will help with the flotation. Sources close to the deal confirmed Morgan Stanley and Goldman Sachs would underwrite the initial public offering (IPO). Several other banks will be involved … Read more