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Wireless

Snap ensure majority vote for founders ahead of IPO

Monday 7 November 2016 | 11:25 CET | News
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Snap has changed its charter in order to make sure its founders keep their majority voting control after its upcoming initial public offering, Bloomberg reported, saying the move will ensure the founders have more control than those at Facebook and Google after their companies went public. The report cited a filing in Delaware, which lays out the voting rights of the founders and shows the company is cleaning up its ownership structure ahead of its planned IPO. In another announcement, CapitalG, the venture capital arm of Google parent Alphabet, quietly disclosed an investment in Snapchat by

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Categories: Mobile & Wireless
Companies: Google / Snap / Snapchat
Countries: World
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