Snap's Much-Awaited IPO Looms, CEO 'Elusive'

Snap founder Evan Spiegel as secretive as ever right before much-hyped price set
By Jenn Gidman,  Newser Staff
Posted Mar 1, 2017 9:03 AM CST
Tech IPO Everyone's Been Waiting for: Snap
In this Oct. 24, 2013, file photo, Snapchat CEO Evan Spiegel poses for a photo in Los Angeles.   (AP Photo/Jae C. Hong, File)

Those who remember the hype when Alibaba priced its initial public offering of stock in 2014 will get to relive that excitement Wednesday when Snap does the same. Reuters reports the owner of the Snapchat messaging app will serve up a number at the end of the trading day, with expectations of anywhere between $14 and $16 a share and a possible valuation of more than $20 billion. What the buzz is on this "eagerly awaited" IPO:

  • Recode offers a quick-hit Q&A, including such queries as: "What could possibly go wrong with Snap going public?"

  • Kids, teens, and young adults are the ones who use Snapchat the most, but it's the older generations who are more likely to be investors. The elder set's confusion over the vanishing messages could be a problem, per MarketWatch.
  • All eyes would be on Snap CEO Evan Spiegel right now—if anyone could find him. The Wall Street Journal takes a closer look at the company's "elusive" (and apparently reticent) founder. "Evan doesn't talk much," shrugs an early investor.
  • The company's plans for the future are an important piece of the IPO puzzle. Sources tell the New York Times those plans may involve a drone.
  • Despite Snapchat's sluggish user growth and the company's hefty hosting costs, Mad Money's Jim Cramer believes the trade will be a "phenomenal" one. "I think the good absolutely outweighs the bad here," he says, per CNBC.
  • Lock them up? Find out why a big block of investors will agree not to sell their Snap stock for at least a year at Business Insider.
  • A Barron's Next primer ponders whether Snap will follow in the footsteps of Facebook (up 250% since its own IPO) or Twitter (not doing quite as well).

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.