Interesting. Bitcoin is trading at an all-time high today. I guess the fears of a tech bubble collapse have been staved off for a little while, at least.
Snap Jumps in Debut After App Maker Raises $3.4B in IPO
61–70 of 369 posts
Re: Snap Jumps in Debut After App Maker Raises $3.4B in IPO
#62Earlier quoted context omitted.
> Major holders are still mega wealthy though. EDIT: I was wrong, that's just what they are selling today, not the total value of their shares. In which case, good for them! It actually surprised me how little the founders got. Their shares are worth about $400M each. Certainly nothing to sneeze at, but usually when you're the cofounder of a 24 billion dollar company, you're a billionaire. :)
That's because they are keeping most of their shares: http://www.cnbc.com/2017/03/02/snap-ipo-what-evan-spiegel-bo... > According to Snap's latest S-1 filing with the SEC from Feb. 27, Spiegel and Murphy plan to sell 16 million shares each on Thursday. The company opened at $24, after it priced its public offering at $17 a share. It's just a small fraction of the number of shares the co-founders own in Snap Inc. Both…
Oh I read the same article but I read it wrong. I thought they meant that would be the total value of the shares they hold after the IPO, not just what they are selling today. My bad.
Re: Snap Jumps in Debut After App Maker Raises $3.4B in IPO
#63Earlier quoted context omitted.
Facebook's market debut showed that Facebook did an excellent job controlling and pricing the IPO. Banks complaining -> Facebook and insiders won. This debut just shows that Snapchat wasn't in the driver's seat. Major holders are still mega wealthy though.
No, it was a disaster that led to years of litigation. NASDAQ admitted it was their technical error and paid millions to settle lawsuits stemming from it. This obsession by techies that you're leaving money on the table if your shares go up after an IPO is bizarre.
> This obsession by techies that you're leaving money on the table if your shares go up after an IPO is bizarre.
How is it not leaving money on the table?
Re: Snap Jumps in Debut After App Maker Raises $3.4B in IPO
#64Earlier quoted context omitted.
the fact that you havent used snap doesnt really speak to their valuation. here are some large cap (+$200B) U.S. companies that i have never used: jpmorgan chase, wells fargo, at&t, bank of america, pfizer, verizon.
Right but I think that most people have used a bank, telphony company, or prescription drugs in the past. OTOH, depending on how loosely or tightly you define what snapchat is ("ephemeral image communication platform", "image communication platform", "communication platform", "social media", "news aggregator"), there are huge groups of people that have never used snapchat or any competing products. There are lots of…
Have you not used any social media?
Re: Snap Jumps in Debut After App Maker Raises $3.4B in IPO
#65This $27.8 billion dollar valuation tells me that somewhere along the line, my job and lifestyle have caused me to detach from a significant chunk of society. I've never used Snap or their platform. I don't even really know what the benefit of their service. I am curious if I'm in the minority or if there's lots of developers like me who aren't able to comprehend these valuations.
I feel the same way.
Though I do have to remember there's a big world beyond me. John Deere has $65 billion EV. I've never use one of their products.
Re: Snap Jumps in Debut After App Maker Raises $3.4B in IPO
#66I know that the Snapchat platform is worth something, it has high engagement and adoption of 18-24 year old age segment, and that is worth a lot in terms of attention and advertising $s. However, this just feels completely out of proportion to earnings and downside does not seem priced in. Willing to be proved wrong of course, but especially seeing as they are non voting shares, I cannot understand this pricing.
And that's not their only product: Bitmoji has been the #1 iPhone app overall since January 11, and it was already the #1 iPhone Utility app since July 22, 2016 (Log in to see) - https://www.appannie.com/apps/ios/app/bitmoji-keyboard-your-... https://www.appannie.com/apps/ios/top/united-states/overall/... And yesterday on eBay, 22 pairs of Spectacles were sold, with one pair went for $229 and 2 others went for $200 e…
Remember the phone made by HTC and Facebook? https://en.wikipedia.org/wiki/HTC_First
Re: Snap Jumps in Debut After App Maker Raises $3.4B in IPO
#67Earlier quoted context omitted.
The hard part with these things is that in some ways progress and growth is non-linear. So Snap has (by all accounts) done a masterful job of launching their first hardware product: https://www.spectacles.com/ How do you value that? I'm of the opinion that AR style glasses are the technology that will be the next tech wave post mobile phones (FB buying Oculus and Google pushing so much money on MagicLeap is explained…
No disrespect to Spectacles, but camera glasses have been around for years. It's not AR and it's not yet even material to Snap's business (according to Snap!).
Right, but this goes back to the arguments everyone had about the iPod - MP3 players had been around for years, the iPod nailed the execution (eventually - the first version was not a success). Nor was it material to Apple's success, at the time.
The point is that proven execution is a good thing, because it implies you'll do it again.
Re: Snap Jumps in Debut After App Maker Raises $3.4B in IPO
#68I'm happy for the NYSE that this went well. SNAP has done some pretty large volume so far with no problems. Interestingly enough, well atleast to someone who cares about the cash equity markets, the NYSE actually did a test run last week to try and simulate the chaos that occurs during any hot IPO. So now we know that there is atleast some appetite for shares with no controlling interest and no indication of paying o…
GAAP vs non GAAP accounting refers to how you calculate PnL, not whether you use things unrelated to accounting to hint that you are growing and might make money in the future. You can definitely use strict GAAP accounting and also brag that users are super duper engaged.
I think you are being more than a bit pedantic for very little benefit.
I never said "Non Gaap accounting", I said "Non Gaap measures".
That doesn't have to mean Pnl, it can, and was intended, to mean things like user engagement numbers, monthly uniques, etc.
Is there a different terminology that you would prefer that I use?
how about this........
I'm interested in seeing whether they focus on their earnings vs user growth numbers. Would this satisfy you?
Re: Snap Jumps in Debut After App Maker Raises $3.4B in IPO
#69I know that the Snapchat platform is worth something, it has high engagement and adoption of 18-24 year old age segment, and that is worth a lot in terms of attention and advertising $s. However, this just feels completely out of proportion to earnings and downside does not seem priced in. Willing to be proved wrong of course, but especially seeing as they are non voting shares, I cannot understand this pricing.
And that's not their only product: Bitmoji has been the #1 iPhone app overall since January 11, and it was already the #1 iPhone Utility app since July 22, 2016 (Log in to see) - https://www.appannie.com/apps/ios/app/bitmoji-keyboard-your-... https://www.appannie.com/apps/ios/top/united-states/overall/... And yesterday on eBay, 22 pairs of Spectacles were sold, with one pair went for $229 and 2 others went for $200 e…
Trend moving from So(cial)-Lo(cal)-Mo(bile) to AI-AR-Dr(one)-SDR(self driving)
Re: Snap Jumps in Debut After App Maker Raises $3.4B in IPO
#70This $27.8 billion dollar valuation tells me that somewhere along the line, my job and lifestyle have caused me to detach from a significant chunk of society. I've never used Snap or their platform. I don't even really know what the benefit of their service. I am curious if I'm in the minority or if there's lots of developers like me who aren't able to comprehend these valuations.
You are definitely not alone. The Snap product has been geared toward younger people as Facebook once positioned itself. Investors are betting that once the product and audience mature there will be huge payouts like they saw with Facebook. There is a big risk here though. Twitter has crashed and burned when compared to Facebook.
I think it's worth noting that Twitter essentially lost to Facebook. Facebook's dominance pigeonholed and limited what Twitter could evolve to. And I'm not sure there's room for more than a couple social networks.
I don't see who SnapChat will lose to besides themselves (i.e. monetization). IMO Facebook/Instagram isn't well positioned win today's 13-25 demographic.
The point is, someone will win. And right now I'm not sure who else is in the running.