Snap had, however, promised almost 240 million shares to employees as of December 31, including 37 million - worth almost $600 million - as an IPO bonus for boss Evan Spiegel.
Whilst details surrounding the drone are very thin on the ground, it's highly likely that Snap would use the gadget to take photos or videos in order to enhance Snapchat's appeal. The pricing signals investors weren't scared away by Snap's slowing user growth in the second half of 2016, which can be attributed in part to competition from Inc., which recently cloned a core Snapchat feature in its app Instagram. According to three anonymous sources, the company is building a drone in an attempt to be "a modern-day camera company".
"We may also use a portion of the net proceeds to acquire complementary businesses, products, services, or technologies", Snap said in its filing. But the photo/video world is a tough sell when it comes to drones, so ultimately, it's the product that will determine the company's success. It will be the largest US company to go public since Facebook's much-larger IPO raised $16 billion in May 2012.
Snap's valuation has nearly tripled within three years, after Snapchat (its previous corporate trading name) held a funding round in 2014 that valued the company behind Snapchat at $10bn (£8.13bn). But history will likely remember Evan Spiegel and his precious company as the lost, desperate dreams of frat bros for generations to come.
As a private-equity investor, he restructured companies across a range of industries including steel, banking and textiles. Former commerce secretaries have praised him, including one who served under former president Barack Obama.
Los Angeles' Chris Paul could make his Ali-like return to the hardwood tonight as the Clippers travel to Golden State (-12.5). Kevin Durant notched 25 points, 15 rebounds and seven assists, while Klay Thompson accounted for 18 points and four helpers.
Except for the fast food area, the Sunday penalty rates have not been brought to the same level as Saturday penalty rates. Penalty rates "frustrate the job aspirations of the unemployed and those who are only available for work on Sunday".
Taking on another player with sound physical tools and a busted jumper is not, by any means, the ideal return for Noel. In all, seven deals were completed prior to the deadline, with some teams really helping their chances this season.
Many pointed to DeVos' affluent background as a billionaire heiress from one of Michigan's most powerful families. We are blind to our prejudices until we finally see them, and then we wonder how we failed to see them all along.
If not for the controversy over potential interference, T-Mobile likely would have deployed LTE-U much earlier. This spring, cellphone carriers such as T-Mobile plan to start supporting a new kind of mobile data.
The full year 2016 growth was 1.6%. 2016 was the eleventh consecutive year the US economy failed to grow 3% or more. Economists surveyed by The Wall Street Journal had expected an upward revision to a 2.1% growth rate.
This time, de Mistura has voiced hope that he will manage to bring the two sides together for direct talks. Deputy Assistant Secretary of State for Syria and the Levant, was in Geneva for the talks, officials said.
Racing 92 have confirmed second row Ali Williams has been suspended after being arrested on suspicion of possessing cocaine. According to reports Williams tried to discard three packets of white powder which were discovered by investigators.
He underwent surgery in early October to fix what is termed an acute Jones fracture in his fifth metatarsal in his right foot. That's the bad news. "I have always known that there was a desire to get him back on the court when healthy", Colangelo said.
But bottlenecks in the A350 supply chain had improved and its output targets remained on track. It foresees a rise in deliveries in 2017 to more than 700 planes, up from 688 a year ago .
Mount Etna eruption captured by drone camera
Mount Etna, Europe's most active volcano, spews lava during an eruption, near the Sicilian town of Catania, southern Italy. Etna can still cause accidents with its ash cloud, so officials say that they are tracking it.
Iranian President Rouhani arrives in Pakistan
He said the insightful comments and thought provoking views of the participants had indeed added value to the deliberations. Uzbekistan's deputy prime minister will attend the event. "We need to work on streamlining our institutional mechanisms".
Samsung Chief Indicted Over Corruption And Bribery Scandal
Corruption has dogged many other business leaders in South Korea's family-controlled conglomerates, which are known as chaebol . A controversial merger between Samsung affiliates that Park allegedly aided was key to solidifying his position.
Iran tests missiles in naval exercises
Gulf allies have long favored a tougher U.S. stance against Iran, whom they blame for regional interference. Another laser-guided missile, Dehlaviyeh, had also been successfully tested, reported Tasnim news agency .
Steelers Reportedly Place Franchise Tag on Le'Veon Bell
Brown has one year left on his current deal and will probably become the league's highest-paid receiver on his next contract. Bell will presumably want a long-term deal, and the Steelers will have to figure out how to accommodate him.
BlackBerry KEYone launches in April for $549
The smartphone has a 12-megapixel rear camera with a Sony IMX378 sensor - reportedly the same one present on the Google Pixel. The front-facing camera is an 8MP resolution unit with 1.12 micron sized pixels and support for 1080p video capture.
Ryan Palmer, Wesley Bryan tied atop Honda Classic leaderboard
If he continues to excel on the greens over the next two days, he will be celebrating his first career win on the PGA Tour. A year ago at the Honda Classic , Fowler shot a pair of 66s for 8-under and held the halfway-point lead through 36 holes.
Drug OD deaths almost tripled since 1999, CDC says
While all age groups saw increases in death, the 55-to-64 group saw the biggest increase, with a five-fold jump since 1999. The suicide rate is 13.4 deaths per 100,000 and the rate of deaths from auto accidents is 11.1 deaths per 100,000 people.
Thailand wins for worst traffic in world
Traffic in other global cities can be "more severe" for shorter periods, "but people in L.A. tend to sit in it longer", he says. The capital is the second most congested city in Europe after Moscow, and is the seventh most gridlocked city on the planet.