The IPO begins today on Wall Street Snap, the most anticipated tech freshman since Facebook's debut. The securities of the company it controls Snapchat, one of the most popular apps, will be offered this morning at a price of dollars 17, higher than fork of 14-16 dollars expected at first.
Snap, what it never made a profit, will start with a market valuation of $24 billion. The shares of the two founders of Snap, Evan Siegel and Bobby Murphy (both not yet thirty) will be worth 4,3 billion dollars each.
Founded in 2011, Snapchat managed to overtake Twitter in 2016 in terms of daily active users and is now targeting a $3 billion placement, with an initial capitalization of at least $25 billion. The offering is led by Goldman Sachs and Morgan Stanley.
At the moment, the accounts travel in the red. The prospectus filed with the securities regulator shows that the company closed 2016 with a loss of $514,64 million, worse than the $372,89 million loss in 2015. Snap warned: “We suffered an operating loss in past, we expect to incur an operating loss in the future and may never achieve or maintain profitability."
