Snap Inc., the parent company behind Snapchat, just filed for an initial public offering. They're the first American social media company to file for IPO so since Twitter did more than three years ago.
The company filed with an initial size of $3 billion, a placeholder amount used to calculate fees that may change. Snap plans to raise as much as $4 billion in the IPO, people familiar with the matter have said, for a market value of as much as $25 billion.
The company posted a net loss of $515 million in 2016, on revenue of $404 million, according to the prospectus filed Thursday. That compares with a loss of $382 million in 2015, on revenue of $59 million.
Snapchat has more than 158 million daily active users, the prospectus shows. Quarterly average revenue per user on a global basis climbed to $1.05 in the fourth quarter of 2016, compared with 31 cents in the fourth quarter of 2015.
Photo: A billboard displays the logo of Snapchat above Times Square in New York March 12, 2015. REUTERS/Lucas Jackson
In 1994, Apple’s Mac OS 7 licensing program briefly enabled other companies to make and sell Macintosh computers. In response, Apple employees “Dave Garr & The Licensees” created this delightful parody of Tiffany’s “I Think We’re Alone Now.” (via r/Apple)
In 1992, the Federal Trade Commission opened an antitrust investigation against Microsoft; in 2001, the company settled the claims, making a slate of pro-competitive promises that were widely derided as too little, too late.
Former tech worker Kshama Sawant (previously) won an unprecedented victory in 2013 by running for Seattle city council as on the Socialist Alternative ticket, raising unprecedented sums in small-money donations, and then winning the election after a last-minute surge in the polls.
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Just about everybody from small-time app developers to big database administrators loves Linux. But just because it’s open-source doesn’t mean its secrets are open to everybody. For that, you need a comprehensive training program like the Complete Linux System Administrator Bundle. If you’re chasing any kind of career in coding, this is the online regimen […]
If you want to be an app developer for Android, there’s never been a better time. Languages like Kotlin are tailor-made for functionality, and the Jetpack suite of tools makes the whole process easier. The only hurdle is learning your way around these tools, and that’s where the Android Jetpack & App Development Certification Bundle […]