What Time Is The Snap IPO Expected to Begin Trading?
Snapchat parent Snap Inc. priced its share offering Wednesday to give the popular social network a market value of some $24 billion, media reportssaid.
Snap's social media app has 158 million average daily active users as of Q4 2016.
Both leaks come during the week Snap Inc. officially went public on the New York Stock Exchange, trading up at 48.4 percent, according to Reuters.
The parent company of social media phenomenon Snapchat has priced its shares at $17 each, valuing the firm at nearly $24bn and making it the biggest U.S. tech float since Chinese giant Alibaba in 2014. The index of the largest US stocks also set an all-time record, with the Dow gaining over 1,000 points in just five weeks for the first time. In November, it expressed hopes for a valuation in the $20-25 billion range.
You may be curious about the buzz surrounding Snap Inc.'s IPO, but should you snap up this tech stock on Day 1?
While Snap's IPO boosted the net worth of other Snapchat executives, it pales in comparison to the founders' newfound riches.
Facebook's IPO in 2012 at $38 per share valued the company at $104 billion (it's now worth almost $400 billion).
The young company saw user growth slow to a halt in the final months of previous year, according to its original IPO filing last month.
It's looking like Sacca really missed out on this opportunity, but he's done well with other risks, like investing in Twitter, Uber and Instagram early on.
Snapchat's parent company is expected to be valued at about $24 billion in its IPO, setting a high bar bar for a company that lost $515 million previous year.
But in the hot stock market the day after President Trump's pro-growth speech to a joint session of Congress, Snap was able to raise another $200 million.
What's more, Snap shares carry no voting rights, so if investors don't like the management they can't vote them out.
Snap is easily the biggest tech IPO since Alibaba debuted in 2014, although it is still dwarfed by the Chinese e-commerce giant's initial market value of $231 billion. Snapchat makes some money from ads, and their newly released special glasses, Spectacles - though the product hasn't made much of an impact on the bottom line.
The president stated before an audience of sailors that his budget proposal to invest $54 billion into defense spending. Trump plans to deliver a speech about his defense budget priorities aboard the U.S.S.
This comes as a pleasant surprise as demonetisation effect do not seem to have affected the GDP growth by much. Chief statistician T.C.A Anant said that it was hard to assess the full impact of demonetization.
But he dismissed the sudden popularity of President Barack Obama's signature healthcare law, which is better known as Obamacare. Over the weekend, Trump said he met with Wisconsin Governor Scott Walker and Florida Governor Rick Scott to discuss Obamacare.
But I can't help but have overwhelming excitement for the Switch, especially after the insane awesome Zelda reviews. Watch our behind-the-scenes video at the top of the story, listen to the podcast above or download it as an MP3 .
Orders for the IPO were concentrated at about $17 to $18 a share, people familiar with the process said Tuesday. Now, the social media app maker employs nearly 2,000 workers and is about to become a publicly traded company.
Also on Monday, the UN Syria envoy Staffan de Mistura met separately with government and opposition delegations. Sources added that the drafted constitution will not be approved without holding a popular referendum.
Pakistani Prime Minister Nawaz Sharif has opened a key economic summit aimed at improving trade ties amid unprecedented security. He appreciated President Ilham Aliyev of Azerbaijan for ably steering the ECO since the 2012 summit in Baku.
I do see this happen in my practice and it can lead to a patient being diagnosed later on, with more advanced disease. The research is the latest to show a steady increase in new diagnoses of colorectal cancer among adults under 50.
The two agencies will work together to achieve "a technology-neutral privacy framework for the online world", they said. At the same time, they have introduced proposals to weaken the ability for the FTC to protect consumer privacy as well.
T, former National Football League star Rashad Jennings , former Chicago Cubs star David Ross , and Bachelor star Nick Viall . She's also danced backup to Beyoncé ( Beyoncé! ) and competed on Season 2 of So You Think You Can Dance .
Mount Etna has erupted in a fiery show of lava in eastern Sicily - sending giant orange fountains of lava spewing into the air. There is no direct danger to the towns or airport on the island but authorities will continue to monitor the growing ash cloud.
Hugh Jackman wants Shah Rukh Khan to play Wolverine
In a post-credits scene, we see men in suits visiting the Weapon X facility to retrieve data and DNA which is marked "Weapon X". Set in a dystopian year 2029, Wolverine ( Hugh Jackman ) Logans alter-ego is no longer the edgy, scrappy superhero.
The Snap IPO means a huge payday for two VC firms
The company offered 200 million shares of stock, putting the total value of the initial public offering at $3.4 billion. Moreover, 26-year-old Spiegel will continue to hold a stake of about 17 percent in the company, valued at $4.05 billion.
Why John Mellencamp says he is hard to date
Still bitter after the breakup? John Mellencamp said in a new interview that his ex-girlfriend Meg Ryan is not his biggest fan. Mellencamp went on to a yearlong relationship with Sag Harbor supermodel Christie Brinkley before the two broke up in August.
Hillsborough Boy Dies In Hot Car
Meteorologists with ABC's local affiliate WFTS said the temperature pushed 90 degrees Fahrenheit in Brandon on Tuesday. There have been two in 2017, a total that included the death of Jacob Manchego , according to the site.
Analysts Set Viavi Solutions Inc (VIAV) Target Price at $8.71
Following the completion of the sale, the director now directly owns 94,156 shares of the company's stock, valued at $802,209.12. According to their observations and findings, the stock could provide a high EPS of $0.12/share and a Low EPS of $0.08/share.
Samsung Galaxy S8 in all its glory
In addition, on-screen buttons are visible at the bottom of the screen, while the power/lock button is located on the right side. Samsung will need to convince potential Galaxy S8 buyers that the phone will be safe, unlike the fire-prone Note 7.
As expected, Steelers place franchise tag on Le'Veon Bell
The Pittsburgh Steelers have placed their franchise tag on star running back Le'Veon Bell, a source told ESPN's Adam Schefter. If both sides fail to agree to a new contract by that date, then Bell will play under the franchise tag for the 2017 season.