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Snap IPO: is it a new Facebook or more like Twitter?

Thursday 2 March 2017 | 18:18 CET | Author: Tim Poulus | Market Commentary
Snap has listed on the stock market, selling 200 million shares for USD 17 each, above the indicated range of USD 14-16 share. Adjusting for further dilution, the price of USD 17 per share values Snap at USD 23.8 billion. The proceeds of the IPO total USD 3.4 billion, of which around three-quarters (145 mln shares) for the company and the rest for existing shareholders. The IPO can clearly be considered a success, with the stock price already up over 40 percent in the first day of trading. The bigger question is whether Snap will become one of the internet majors, alongside Google and

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Categories: Internet
Companies: Facebook / Netflix / Snap / Snapchat / Twitter
Countries: World
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