Thursday, March 2, 2017
Snap Inc. today announced the pricing of its initial public offering of 200,000,000 shares of Class A common stock at a price to the public of $17 per share, for a total offering size of $3,400,000,000. Snap is issuing and selling 145,000,000 shares of Class A common stock and the selling stockholders are selling an additional 55,000,000 shares of Class A common stock.
Their raising 24 billion dollars for a company that doesn't make any money yet. Although it does have revenues. Pricing is twice the p/e for facebook. Potentially in play on the opening momentum. Millennials love it so well see were it goes.