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Re:Snap lays off 20% of employees by twoodfin on Wednesday August 31, 2022 @03:13PM (#32666977)
Presumably they’re going to write off the cost of the acquisition for tax purposes. I suppose that doesn’t preclude selling the assets like the brand and the software, but since it looks like they’re in a hurry to reach profitability, the certainty of booking tens of millions of future tax offsets must have seemed appealing.
Re:Snap lays off 20% of employees by onlyrealcuzzo on Wednesday August 31, 2022 @03:29PM (#32667156)
If you've never made any money - how much are you really thinking about taxes?
Re:Snap lays off 20% of employees by twoodfin on Wednesday August 31, 2022 @03:36PM (#32667238)
That’s the point: They’re clearly attempting a shift from growth to profitability. Those future profits look that much better to investors if they have (say) $50M in tax offsets already banked.
Re:Snap lays off 20% of employees by acchow on Wednesday August 31, 2022 @10:14PM (#32671044)
You know what looks better than $50M in tax offsets? $500M in cash
Re:Snap lays off 20% of employees by twoodfin on Thursday September 01, 2022 @01:17AM (#32672292)
I don’t understand the point you’re making. Zenly could be readily sold for $500M?