Who Will Get Rich After the Snapchat IPO?

Technology & Telecommunications

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03/03/2017 13:56 WIB

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Amount of Funds Received by Snapchat Executives and Venture Capitalists

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Amount of Funds Received by Snapchat Executives and Venture Capitalists

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Snap, Snapchat's parent company, has officially gone public. Their Initial Public Offering (IPO) was a huge success, valuing the camera-based social media company (photo and video) at approximately US$28.3 billion, or roughly Rp 378 trillion. Snap offered its initial shares on the New York Stock Exchange (NYSE). At the close of trading, the share price reached US$24.48 per share, a significant increase from the opening price of US$17 per share.

Snap's CEO and CTO, and founders, Evan Spiegel and Bobby Murphy, each made approximately US$3.4 billion in the IPO. Furthermore, Snap Inc. implemented a policy where new investors who purchased shares in the IPO do not have voting rights to influence company decisions or its future. This means that the founders and early investors of Snap will retain control over the company's management and operations.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Who Will Get Rich After the Snapchat IPO?

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