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Briefing
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- $3 billion IPO – Filed for an initial public offering at New York Stock Exchange on February 2, 2017 with estimated market valuation of $20 billion
- Flat User Growth – Reported 158 million daily active users with flat user growth in 2016 Q3
- Advertising Revenue Increase – Advertising revenues grew seven times in just one year, from $58.7 million in 2015 to $404.5 million in 2016
- Staggering Losses – Lost $372.9 million in 2015 and $514.6 million in 2016, with company saying it may never achieve or maintain profitability
- Competition with Facebook – Facebook copied Snapchat Stories for Instagram, resulting in declining Snapchat Stories views
- Camera Company Ambitions – Envisions becoming “camera company,” having successfully launched Spectacles, its camera-equipped sunglasses, in 2015
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Accelerator
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Market Disruption
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Sector
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Information Technology
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Organization
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Facebook Inc., Snapchat Inc.
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Source
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Kastrenakes, J. and Popper, B., "Snapchat creator files for a $3 billion IPO",
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Fiegerman, S. and Egan, M., "Snapchat files for $3 billion IPO",
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de la Merced, M. and Benner, K., "Snapchat parent showcases its strength in preparation for I.P.O.",
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AcceleratingBiz analysis
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Original Publication Date
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February 2, 2017
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