Snapchat mum or dad Snap Inc. has at last printed its long-awaited IPO submitting. The social messaging firm, which plans to go public in early March, simply shared small print about its growth trajectory and financials.
And whereas we knew that Snap has raised at least $ 2.four billion in capital from a protracted listing of buyers, we now know the possession percentages. We additionally be aware of the pre-IPO values of the shares.
in keeping with the ideas from the filing, we see that co-founders Evan Spiegel and Bobby Murphy, every personal roughly 22.2% of the corporate previous to its IPO, though this number will trade once Snap goes public. For comparability, Mark Zuckerberg owned 28.2% of facebook on the time of its IPO filing.
take a look at this chart for current possession percentages:
if you calculate their whole shares times the percentage price of the closing non-public spherical ($ 15.36, as a result of a stock split), this implies each founder owns about $ 3.5 billion of the company, Hari Raghavan from Equidate factors out. the usage of the identical means, we see that Benchmark and Lightspeed challenge partners personal about $ 2 billion and $ 1.three billion, respectively.
but not all shares have equal vote casting rights. if truth be told, Snap acknowledges in its filing that it may be the primary ever IPO to have a class of shares that doesn’t permit balloting. “we are not aware of every other company that has accomplished an initial public offering of non-voting inventory on a U.S. stock alternate.”
Snap prior to now approved a brand new class of shares that might help founders Evan Spiegel and Bobby Murphy keep regulate of the corporate. in step with the filing, each and every co-founder at this time holds 44.three% of voting rights. Benchmark holds just 2.7% and Lightspeed has 1.eight%.
Fundings & Exits – TechCrunch