Snap set the valuation of its initial public offering (IPO) at between $19.5bn and $22.2bn in what could be the third-biggest technology offering of the past decade, people familiar with the matter said.
Next month, Snapchat parent company Snap will begin selling shares on the public market in one of the most highly anticipated I.P.O.s for a tech company since Twitter went public in 2013. It's also set to be the first U.S. listing from that industry this year, according to data compiled by Bloomberg.
Snap Inc's initial price range puts the company's initial public valuation below the $25 billion it was reported to be seeking. At a valuation of $19 billion, Snap stock would trade at 47 times sales, not quite as sky high as the price-to-sales ratio of 62 that we previously computed.
"Even I was [surprised] by the slowdown in user growth, and user growth is very important at this stage", said Santosh Rao, head of research at Manhattan Venture Research, a merchant bank focused on the secondary market for late-stage venture-backed technology companies. And the company's decision to offer no voting power with shares being offered in the IPO has drawn criticism from both existing and prospective shareholders.
Net losses widened to US$514.6 million from US$372.9 million in that period. The company and its underwriters will set a final IPO price based on.
While management is sure to tout its revenue increases, Snap may face questions about its user growth, which slowed in the second half of 2016.
Snap is aiming to sell 145 million shares, with the proceeds going toward operating expenses, capital expenditures and for potential acquisitions. The startup noted that it is offering to sell 200 million Class A common shares and is trading in the New York Stock exchange. After the offering, each will maintain a 44 per cent control over the votes.
Following the sale, the senior vice president now owns 183,275 shares in the company, valued at $5,573,392.75. The company earned $11.60 billion during the quarter, compared to analysts' expectations of $11.55 billion.
Amidst his exciting song/tour announcement, Future also jumped on the new Maroon 5 single "Cold", which dropped Tuesday (Feb. 14). Each purchase will come with a digital copy of Future's new self-titled album that's being released Friday.
Harrison Ford almost flew his private plane into a passenger jet at a California airport on Monday, according to NBC News . Ford, a renowned aviation enthusiast who collects vintage aircraft, has had close calls while flying his planes before.
House Democratic leader Nancy Pelosi called for Flynn to be fired, saying he "cannot be trusted to put Putin before America". The leaks are said to be based on communications intercepts, which could include email, texts or telephone conversations.
The suspected militants had taken refuge in Frisal village when they were surrounded by police and the military, officials say. An encounter is underway between security forces and terrorists in Bandipora district of Jammu and Kashmir.
As we outlined earlier today, T-Mobile's plans are significantly cheaper, especially if you have a couple lines. T-Mobile's unlimited plan costs $70 per month, and AT&T prices its unlimited plan at $100 per month.
The researchers found out that 82 or 2.3 percent of participants experienced elevated prenatal depression symptoms . New baby depression is not exclusive to women, but can affect men as well, according to New Zealand research .
In one case, the ICE agency charged one immigrant as a "gang member" because of old speeding tickets and tattoos. Trump commented on the arrests in a joint news conference with Canada's Prime Minister Justin Trudeau on Monday.
Anti-Doping Agency, armed with sworn testimony from Landis and other former teammates, moved to strip Armstrong of his titles. Landis, himself a former Tour victor caught cheating, would be entitled to up to 25 percent of any money recovered.
Also earning recognition this year: Elizabeth Degener of Cape May's Enfin Farms , a semifinalist for outstanding baker. Nominations will also be announced live via the Foundation's Facebook Live video feed and in real time on Twitter .
Teva may also opt to sell other non-core assets, such as its active pharmaceutical ingredients business, the people said. Teva Pharmaceutical Industries Limited (NYSE: TEVA ) stock ended Friday session in the red zone in a volatile trading.
Tunsil spent most of his rookie season at guard, but he was always projected to move to left tackle eventually. It's been widely believed that the Dolphins were grooming Tunsil to be their long term answer at left tackle.
Luckily, American Alpha stave off the upset and embarrassment by picking up the win after hitting Viktor with Grand Amplitude. Goldberg will face Kevin Owens for the WWE Universal Championship at Fastlane on March 5, and he's expected to win the title.
We have to make sure we play well on the day because we are going to have to if we are going to beat Bayern Munich. They've been outclassed and outplayed and they did at a canter, ' the Sportsmail columnist said on BT Sport .
Dolan announced the ban during an interview with ESPN Radio on Friday, though he said he hoped to see Oakley return someday. Oakley believes he has been shunned by Dolan and the Knicks for making critical public statements about the organization.
The Justice Department court filing on Thursday said Trump's order would be "substantially revised" but did not provide details. If the administration had made a decision to spend a month crafting the order, "everything would've been ideal ", Trump said.
The feds said McDowell bought a.40 caliber Glock and hollow point ammunition from the undercover agent on Wednesday. He followed that January 5 with a post slamming those who failed to care about their white race like Roof did.
Is this James' best assist ever? Channing Frye managed a relatively quiet double-double with 21 points and 10 rebounds. LeBron James isn't necessarily too anxious about his team being without Kevin Love for the next six months.
The businessman is a vocal critic of federal minimum wage increases and expanded eligibility for overtime pay. Andrew Puzder says he is withdrawing as President Donald Trump's nominee for labor secretary.
There is no official release date for the new Batman film yet, but its original 2018 target date is looking increasingly unlikely. Storylines will overlap, all leading up to team up films, Justice League 1 later this year and Justice League 2, likely in 2019.
Two people forced their way inside, and then shot through the door of a 19-year-old man's room before taking off, police said. No one is in custody for the shooting, which occurred around 1:30 p.m. local time on the city's West Side, police said.
Toronto president Masai Ujiri has full intensions of signing Ibaka to a new deal following the season. Ibaka will now slide into the team's power forward spot and fill an enormous hole for the Raptors.
Called FluMist, this flu nasal form is made from a weakened flu virus form, unlike traditional shots using dead virus. The woman was a resident of a long-term care facility, according to the Delaware Division of Public Health.