Snap Inc., the parent company of the popular Snapchat app, has officially filed the paperwork required to go public in an offering expected to raise up to $3 billion. Characterizing itself as a “camera company” that has reinvented the way in which
Facebook has announced a five-for-one split of its stock as the shares have risen to as much as $76 per share on private exchanges. Although Facebook is not publicly traded, employees and others who own shares have been able to produce some liquidity by selling shares on private exchanges to those who are making a bet on a future successful initial public offering. Read this article for commentary regarding why the company’s move is dubious, at best.
Facebook has grown from a dorm room project intended for university students into a massive network of over 400 million users. This is an astounding achievement when one considers that Facebook’s user base represents approximately 25 percent of all individuals on the planet with access to the internet. Any network that grows this rapidly over such a short timeframe is bound to be controversial. Will Facebook now recognize the virtue of simplicity?