Snap Inc. Makes its Debut | Crunch Report | Summary and Q&A

TL;DR
Snapchat's IPO is successful, raising $3.4 billion, and Bitcoin's value surpasses that of gold.
Key Insights
- ๐คจ Snapchat's IPO was successful, raising $3.4 billion and valuing the company at around $30 billion.
- ๐ Snapchat markets itself as a camera company, focusing on its hardware in addition to its app.
- ๐ The future performance of the stock is uncertain, as seen with Twitter's volatile experience compared to Facebook's.
- ๐ค NASA also released software called Snap, which is a modeling program for planetary trajectories.
- ๐ Bitcoin's value has surpassed that of gold, with Bitcoin doubling in the last year while gold remains stagnant in value.
- ๐ There is no correlation between the values of gold and Bitcoin.
- ๐ค Snapchat's IPO is a fundraising event for the company and a money maker for investors and early employees.
Transcript
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Questions & Answers
Q: How much money did Snapchat raise during its IPO?
Snapchat raised $3.4 billion during its IPO, valuing the company at around $30 billion.
Q: How did Snapchat price its stock for the IPO?
Snapchat priced its stock at $17 a share, slightly above the range of $14 to $16. This decision was based on investor appetite for the stock during their roadshow.
Q: When will employees be able to sell their shares in Snapchat?
Employees will be able to sell their shares five months after the IPO during a lock-up period. This period is typical for companies going public.
Q: What other software did NASA release in their public catalog?
NASA released software called Snap, a high-fidelity propagation program for modeling planetary trajectories. There were also other tools for mathematical modeling and data analysis available.
Summary & Key Takeaways
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Snapchat's IPO finishes its first day with a 44% increase from its IPO price, raising $3.4 billion and valuing the company at around $30 billion.
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Snapchat markets itself as a camera company, highlighting its hardware and Spectacles glasses. Investors responded positively on its first day of trading.
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The success of Snapchat's IPO cannot guarantee its future performance, similar to Twitter's volatile experience in the stock market compared to Facebook.