Snap Inc. Makes its Debut | Crunch Report

TL;DR

Snapchat's IPO is successful, raising $3.4 billion, and Bitcoin's value surpasses that of gold.

Transcript

snapchat makes its debut on the New York Stock Exchange NAFTA makes it software catalog public and one Bitcoin becomes more valuable than one ounce of gold it's Thursday March second and this is crunch report when you're a parent and you're at your kids graduation you see them walking across the stage they're all grown up moving on I can imagine yo... Read More

Key Insights

• 🤨 Snapchat's IPO was successful, raising $3.4 billion and valuing the company at around $30 billion.
• 😀 Snapchat markets itself as a camera company, focusing on its hardware in addition to its app.
• 🙈 The future performance of the stock is uncertain, as seen with Twitter's volatile experience compared to Facebook's.
• 🤙 NASA also released software called Snap, which is a modeling program for planetary trajectories.
• 🏅 Bitcoin's value has surpassed that of gold, with Bitcoin doubling in the last year while gold remains stagnant in value.
• 🏅 There is no correlation between the values of gold and Bitcoin.
• 🤑 Snapchat's IPO is a fundraising event for the company and a money maker for investors and early employees.

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

• 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.

• Snapchat markets itself as a camera company, highlighting its hardware and Spectacles glasses. Investors responded positively on its first day of trading.

• The success of Snapchat's IPO cannot guarantee its future performance, similar to Twitter's volatile experience in the stock market compared to Facebook.