It could be the IPO of the year: Snap, the manufacturer of the Smartphone application Snapchat, has submitted on Thursday night for its stock market prospectus. Thus, the Countdown for the Wall Street debut that could go in the current quarter over the stage. For the first time Figures on the business development are now become public. As expected, sales are still manageable, but they grow rapidly. For the past year, Snap has reported a turnover of $ 405 million, 2015 there were $ 59 million. The company is yet high in deficit. 2016, there was a net loss of $ 515 million, in the previous year, there were 373 million dollars.
Snapchat had end-of-year 158 million members use the service at least once a day, an increase of 48 percent compared to 2015. Thus, Snapchat still lags far behind the social network Facebook, that comes to 1.2 billion users (monthly, Facebook is used by more than 1.8 billion people). Facebook wanted to buy the Snap a few years ago for supposedly three-billion-Dollar, flashed but. Now it is speculated that the Snap could be assessed at the time of the IPO with up to $ 25 billion. As the leading underwriters in the IPO, Morgan Stanley, Goldman Sachs, J. P. Morgan and Deutsche Bank are listed.
In the IPO prospectus also media reports from the past few weeks have been confirmed, according to which, the company will only issue shares without any voting right, which is very unusual. This will ensure that the founders Evan Spiegel and Bobby Murphy to retain control. From the prospectus shows that the mirror and Murphy each hold 44 per cent of the voting rights, although only slightly more than 20 percent of all shares. In any case, both would be billionaires in the aim of assessment on the paper. The 26-year-old mirror is Chairman of the Board of Snap, Murphy is chief Technology officer.
Snap the share structure with voting papers as one of the risk factors in its IPO prospectus. Also, the competition is mentioned as a risk factor. Snap points out that the introduced to Facebook owned photo service Instagram similar features as Snapchat. As a risk factor, the relatively young user base which, according to the company, the majority between 18 and 34 years old. These users could be less loyal than other demographic groups.
Snap has been founded in the year 2011. Its Smartphone App Snapchat is radically different from Facebook. The exchanged contents are visible to the receiver only for a short time and then disappear again. The concept is especially popular with young people good, have the feeling to be able to Snapchat open-hearted to communicate. Therefore, Snapchat initially had the reputation as a “Sexting”App, which, above all, raunchy. The word “Sexting” is even in the stock exchange prospectus.
Beyond the user-generated content platform, Snapchat is also more and more to a Message and publishes contributions from media brands such as “CNN” or the “Wall Street Journal”. His business makes the company, especially with advertising. It expands, but its radius of action and has recently brought a pair of sunglasses with integrated video camera by the name of “Spectacles” on the market, whose recordings can be directly with Snapchat shared.
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