Snapchat looks like a real business after all
We don’t understand it, but perhaps we’re not supposed to. We do understand numbers though, and the Snap financials are looking stronger each year.
We don’t understand it, but perhaps we’re not supposed to. We do understand numbers though, and the Snap financials are looking stronger each year.
Snap has reported its numbers for the second quarter, and while the news is not wall-to-wall blockbusters, there does seem to be rational, long-term confidence.
A FCC filing from Snap indicates the social media firm is set to have another stab at making its connected glasses work, after a tepid response to the first go.
Earlier this month Snap wowed the world with some decent financial results, boosting shares by 25%, but negative feedback on its interface redesign and a damning tweet from Kylie Jenner have had the opposite effect.
Snap has always been pretty good at coming up with new ideas to engage consumers but making money was always its Achilles heel.
Snap’s VP of Content Nick Bell has dropped a pretty heavy hint that the Snap team will be looking into original content by the end of the year.
Snap has released its results for the last quarter, with the over-arching lesson being Facebook is seemingly the only one that can make money from this social media thing.
The Snap IPO caught a few people off guard as prices surged to $24 after the first day of trading, but as the price declines, late comers to the party are looking a little bit screwed.
Snap finished its first day of trading with share prices increasing 44% on the initial $17, finishing at $24 with a market capitalization roughly $33 billion.
Snap’s most recent filing with the Securities and Exchange Commission, the team are chasing after an IPO which would value the business at $18.5 billion, less than half of its initial ambitions.
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