‘I’m Like a Guinea Pig—I’ll Take Anything’: An Explosion of Supplements Hits Tech’s Kitchen CountersRead Now

Snap CEO Evan Spiegel. Photo by Larry Busacca/Getty Images.

Snapping up Snap Ahead of IPO Proves Tough

By  |  Dec. 1, 2016 7:01 AM PST
Photo: Snap CEO Evan Spiegel. Photo by Larry Busacca/Getty Images.

Much like the crowds lining up to buy Snap’s new Spectacles, investors are rushing to grab stock in the owner of Snapchat before it goes public next year. But they’re finding little to buy as they scout the typical sources of stock—employees and other investors.

Those existing shareholders are rebuffing offers to sell, even though buyers are willing to pay as much as 25% above Snap’s most recent fundraising valuation of about $18 billion, brokers say. That’s likely because shareholders are aware that the price could soar after the IPO, when a wider group of investors will be able to buy Snap stock. Snap, one of the most anticipated IPOs in tech in recent years, is reportedly expected to be valued well above $20 billion in the offering.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
markets startups
Stripe Walks Tightrope to Stay Private. Could Other Firms Follow?
John and Patrick Collison. Photos by Bloomberg.
Thirteen years after starting Stripe, chief executive Patrick Collison is raising his company’s largest ever slug of cash from venture capitalists. And he plans to alter employees’ stock plans so the company can delay a public offering. Is this a sign that more tech firms will once again try to delay going public? Not necessarily. But Stripe is positioning itself to stay private for...
Latest Briefs
 
FTX Sets Deadline for Politicians, Others to Return Donations
Apple Retailers in China Cut iPhone Prices
Carlyle Picks Former Goldman Sachs Executive as Next CEO
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Art by Clark Miller.
The 1:1 google
‘We Just Have to Keep Winning’: A Sonos Executive With a Colorful History Goes to War Against Google
A few months into his job as chief legal officer of Sonos, Eddie Lazarus was ready to wage war. When Lazarus joined the audio hardware company in late 2018, it was facing growing competition from tech giants like Amazon and Google.
Silicon Valley's Latest Invention: The Supplement Stack
The Weekend culture ai
Silicon Valley's Latest Invention: The Supplement Stack
Greetings, and welcome to your Weekend! Today’s newsletter really ought to come with a surgeon general’s warning: “Consuming dozens of unregulated health supplements may not actually be awesome for your health.” It’s hard not to shake your head at the sheer number of nascent and untested substances that some of our tech-industry peers are swallowing.
A selection of AI-generated selfies (good ones on the left, duds on the right) of the author Zara Stone.
Market Research culture ai
Know Thy Selfie: A Journey Into the Uncanny Valley of AI-Generated Avatars
At 7 a.m. on August 22, 2022, Yaron Inger woke up to find his business irrevocably changed. The co-founder and chief technology officer of Lightricks , which develops Facetune and other popular media-editing apps, scrolled through his newsfeed, his eyes flicking from one image to another.
Art by Mike Sullivan.
Exclusive crypto
Genesis Creditors Could Miss Out on Recent Crypto Rally
Crypto prices have risen since parts of crypto lender Genesis filed for chapter 11 bankruptcy last month, lifting the value of customers’ crypto assets stuck in Genesis accounts.
Art by Clark Miller.
The Big Read culture
‘I’m Like a Guinea Pig—I’ll Take Anything’: An Explosion of Supplements Hits Tech’s Kitchen Counters
When Courtney Reum wakes up in his Los Angeles home, it’s time to freeze, shake and dangle upside down.
Amazon executive chairman Jeff Bezos. Art by Mike Sullivan
Exclusive e-commerce amazon
How Amazon’s Bricks-and-Mortar Dreams Hit a Wall
If Amazon’s ambitious vision for becoming a power in bricks-and-mortar retail had gone to plan, last month would have been a big milestone for the company.