Re:Snap Jumps in Debut After App Maker Raises $3.4B in IPO
by jonknee on Thursday March 02, 2017 @11:58AM
(#13775711)
That's because they are keeping most of their shares:
http://www.cnbc.com/2017/03/02/snap-ipo-what-evan-spiegel-bo...
> According to Snap's latest S-1 filing with the SEC from Feb. 27, Spiegel and Murphy plan to sell 16 million shares each on Thursday. The company opened at $24, after it priced its public offering at $17 a share. It's just a small fraction of the number of shares the co-founders own in Snap Inc. Both men will still have 97,164,485 after Thursday's sale.
Re:Snap Jumps in Debut After App Maker Raises $3.4B in IPO
by jedberg on Thursday March 02, 2017 @12:27PM
(#13776032)
Oh I read the same article but I read it wrong. I thought they meant that would be the total value of the shares they hold after the IPO, not just what they are selling today. My bad.
EDIT: I was wrong, that's just what they are selling today, not the total value of their shares. In which case, good for them!
It actually surprised me how little the founders got. Their shares are worth about $400M each. Certainly nothing to sneeze at, but usually when you're the cofounder of a 24 billion dollar company, you're a billionaire. :)