Snap was hailed as the next Facebook. It is starting to look like the next Twitter. Alright, perhaps that’s unfair. But in its latest earnings report, Snap (formerly Snapchat, which remains the name of the company’s app) announced some awfully Twitterish news. User growth has declined and quarterly losses tripled, compared to the same period last year. The company is on pace to lose more than $1 billion in 2017 (not counting nearly $2 billion in one-time costs related to its initial public offering). After the announcement, the stock price for Snap slumped more than 10 percent, bringing it down to roughly half its post-IPO high.
5 March, 2017 Snap's stock price hard to justify – Barron's Snap Inc's share price looks overvalued following a surge in the wake of its much-anticipated initial public offering last week, according to an article in Barron's. Shares of the messaging app company closed at $27.09 on Friday, well above its IPO pr...
2 March, 2017 Factbox – Snap IPO: The asymmetry of venture returns By Angela Moon NEW YORK (Reuters) - Shares of Snap Inc , the owner of the messaging app Snapchat, opened at $24 per share on the New York Stock Exchange on Thursday versus the initial public offering price of $17. Following is a list of venture capital firms selling their shares in Snap. […]
14 March, 2017 How to use all the awesome iOS 10 iMessage features you forgot about Apple has a new commercial it just released for the iPhone 7, and it focuses on the sticker support Apple added to its Messages app in iOS 10. It's a very fun spot that has Apple fans talking, but the ad is of particular importance because it reminds iPhone users that there were […]