The Venice, CA-based company plans to raise $3.0 billion by offering 200 million shares (28% insider) at a price range of $14 to $16. You can't buy Snap stock just yet; the company is about to embark on what is known as a "road show", in which it meets with a variety of big investors and analysts to drum up interest in its shares.
Snap, which only launched its disappearing messages app in 2012 and generates most of its revenues from advertising, has since diversified into a camera company and started selling $130 video-recording glasses that shoot first-person footage.
Snap had a net loss of $514.6 million on $404 million in revenue for the year ending December 31, 2016, compared to a net loss of $372.9 million on $58.7 million in revenue in the prior year.
The Snapchat app had 158 million average daily active users as of the fourth quarter of 2016. A year ago the company introduced its first hardware product, camera glasses called Spectacles that retail at $130. It plans to list on the NYSE under the symbol SNAP. Holders of class B stock are entitled to one vote, and it is convertible into one share of class A stock. The class C stock represents 88.5% of the voting power of the outstanding capital stock after the IPO. The company also said it is not "anticipating any material acquisitions" but may purchase some "complementary businesses, products or technologies".
Final valuation will depend on how investors view specific issues, including a recent dip in the growth rate of new users, the competitive landscape and the fact that the stock offering is structured so that Snap's leaders will retain significant control after the IPO, per an earlier Journal report.
Net losses widened to US$514.6 million from US$372.9 million in that period.
Owner and executive chef Spike Gjerde won Best Chef Mid-Atlantic in 2015, bringing home Baltimore's first-ever James Beard Award. Gabe Barker of Pizzeria Mercato in Carrboro was named a semifinalist for the James Beard Rising Star Chef of the Year.
It is rumored that she will team up with Becky Lynch and will go against Mickie James and Alexa Bliss in a tag team match. That show, along with this week's Smackdown Live , did a great job getting everything going in the direction of Mania .
Dolan offered an apology Tuesday, but Oakley did not accept it, per Scott Cacciola and Mike Vorkunov of the New York Times . Just throw that out there like that's no big deal. "I definitely think, like I said, that that's a slave-master mentality".
Phillips' departure also means Jose Peraza will be the starter while second baseman prospect Dilson Herrera gets more experience. Phillips, now 35, grew up outside Atlanta, so it could be he had a change of heart and made a decision to approve a trade.
If the government's case succeeds, Landis acting as the whistleblower stands to get a cut of the damages. "Landis attorney Paul D. In 2013, Armstrong confessed to knowingly using performance-enhancing drugs during an interview with Oprah Winfrey.
Clay County Health Department Officials are spreading the word: If you haven't gotten your flu shot , now's the time. There have been 896 cases of flu this year in DE , with 159 of those coming from Sussex County, the release said.
These rates are lower than those of postpartum depression in women, which the authors previously reported at 8% in New Zealand. Researchers at the University of Auckland interviewed a diverse group of 3,500 men, all of whom had pregnant partners.
As a result, Kim Jong Nam was raised mostly overseas, and Kim Jong Il reportedly believed he had become too westernized. In any case, Kim Jong Un has been known to be ruthless about potential rivals, even within his own family.
It remains uncertain whether prosecutors will again seek an arrest warrant for Lee after failing with their January 19 request. Prosecutors will decide whether to again seek an arrest warrant for Lee by next week.
The Weeknd hits back at Justin Bieber with diss track
Selena Gomez just released her first new song since 2015 and it's a big one! Apparently, Selena Gomez has a new "love interest". The track " Some Way " includes the lyrics , " I think your girl, think your girl, fell in love with me ".
Michigan State suspends coach linked to sex abuse complaints
Klages believes it is in everyone's best interests for her to retire from her current position at MSU", Bobryk said. "However, Ms. In a letter to Klages informing her of her suspension, MSU Athletic Director Mark Hollis said Klages' "passionate defense of Dr.
Almost 200000 evacuate because of dam spillway damage
A section of Lake Oroville is seen almost dry on August 19, 2014, when it was at just 32 per cent of its total capacity. By early Monday, numerous pumps at those gas stations had yellow tape across them, indicating they were out of gas.
Woman arrested, probe ongoing into Kim Jong Nam's death
Kim is believed to have been born on May 10, 1971, although birthdays are always unclear for senior North Koreans, Mr Gause said. Kim Jong-nam's wife is now staying in Beijing with a son, while his second wife is living in Macao with a son and a daughter.
DHS: Most Immigrants Arrested By ICE Had Crime Records
However, there are apparently undocumented immigrants with no criminal records were also arrested and could possibly be deported. An ICE official in the Los Angeles office said the raids were part of an "enforcement surge" but maintained they were routine.
Joe Root replaces Alastair Cook as England's Test captain
But he has scored well at home, both in The Ashes and in Test cricket generally, averaging almost 60 with the bat in England . After Alastair Cook stepped down last week, the Selectors and I engaged in the proper process to appoint his successor.
Verizon launches an unlimited data plan
Verizon is also offering new customers with older phones the option to buy one of the new smartphones for $5 a month. And, after the included 10GB of high-speed data, customers still get unlimited 3G data through the end of the month.