Snap Inc. has authorized a new class of shares that ensures founders Evan Spiegel and Bobby Murphy will retain control after the company goes public, according to a restated company charter filed in Delaware on Monday.
The new class of shares ensures the founders would keep the supervoting rights they already have—a common move for a company getting its house in order for an IPO.
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The new charter appears to give voting rights to some shareholders who don’t currently have them.
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