Snapchat IPO Makes Its 26 And 28-Year-Old Founders Multi Fucking Billionaires
Multi billions of dollars. As in more than just one billion dollars. Multiple billions. That’s billions with a B. A billion is a thousand million. We’re talking multiple of those. For each of them. They each are now worth multiple thousands of millions of dollars.
Hey, good for them. Good for these guys. Not us. But good for these guys.
Snapchat’s parent company, Snap Inc., began trading at $24 a share today, up from its initial IPO price of $17, valuing the company at nearly $24 billion. Fuckkkkk.
From Business Insider:
Snap Inc. surged in its debut as a publicly traded company Thursday, after raising a greater than expected $3.4 billion in an initial public offering.
Shares of Snapchat’s parent company opened for trading at $24, up 41% from the IPO price of $17 apiece. At the IPO price, Snap has a valuation of nearly $24 billion.
Snap’s cofounders, Evan Spiegel, 26, and Robert Murphy, 28, rang the opening bell on the exchange earlier Thursday. At the IPO price, Spiegel’s stake in the company is worth at least $4.5 billion. Murphy’s stake in Snap is valued at closer to $3.9 billion.
Isn’t this surge somewhat surprising considering its flat user growth and the unnatural, kind of ill-fitting way they monetize? The sponsored filters are pretty effective but the ads in between the stories? I don’t know, man. I’ve never watched more than a half-second of one of those. Facebook/Instagram recently introduced their very own version of the disappearing picture and video feature, and it’s gaining steam. My old ass friend use it almost exclusively now.
Veronica of TSM reminds me that “as long as Snapchat has cute face filters, it’s going to be a popular app.” That damn dog filter is so hot still. SO hot. Putting basic bitches’ asses in the seats since 2015. Facebook has some other shit cooking, too. Facial filter technology. We’ll see, I guess.
Anyway, hey, these guys are now multi fucking billionaires. That’s a lot of scrilla. GOOD for them..
[via Business Insider]
Image via Shutterstock
If Snapchat is worth $24 Billion, then Grandex must be worth at least… oh never mind! Ha ha I’m going to put that on Facebook!
9 years ago at 11:52 amTSM still exists?
9 years ago at 11:57 amThat is a lot of money. Being in my 20s, not in school, but distinctly NOT a billionaire makes make appreciate the craziness of the fact.
What’s great about it is the combination famous/not famous. Being rich is great and being famous is also good (we’re talking for getting girls here). But when you’re famous people bother you. These guys are only celebrities when they want to be. “Sup girl, I invented SnapChat” “Uh, yes I’d like to attend this event, I’m the inventor of SnapChat”
9 years ago at 12:04 pmIf I was 20 years younger, “Sup girl, I’m Shark Week” would work for me!
9 years ago at 12:20 pmHow long do sharks usually live?
9 years ago at 4:19 pmLong enough 😉
9 years ago at 4:35 pmWhite guy looks like a major boner.
I’m jealous as hell.
9 years ago at 12:13 pmwhite guy is engaged to Miranda Kerr so he’s winning at life
9 years ago at 12:22 pmWhat would your first large purchase be?
9 years ago at 12:31 pmHookers and cocaine.
9 years ago at 1:12 pmWhich would probably eventually also be my last purchase.
9 years ago at 8:19 pmAEKDBillions
9 years ago at 12:43 pmJust curious… does the inability to read comments when opening an article from a third party (i.e. Facebook) have to do with keeping casual observers from seeing how demented we are or is it just a design flaw?
9 years ago at 1:41 pmDornhole dont act like you know anything about stock valuation. You graduated and went to work for a fraternity website, interview a pornstar once a week and your last name is cheverere.
p.s. you fucking suck
9 years ago at 8:32 pmI enjoyed this comment.
9 years ago at 9:43 pm