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Make no mistake. Snap's (relatively early) IPO wasn't to raise capital for further expansion, it was to ensure founders had easy access to liquidity in a servic
by kondro 9y ago
Make no mistake. Snap's (relatively early) IPO wasn't to raise capital for further expansion, it was to ensure founders had easy access to liquidity in a service they knew wouldn't thrive over the next 5-10 years.
- billmalarky 9y agoIf that's the case why did Evan Spiegel keep turning down buyout offers, including potentially a $30B one from google last year?
- dreaminvm 9y agoWas the rumored $30B offer from Google ever serious? This news only popped up recently with SNAP stock nosediving before lockup expiry for employees. Another reason for turning down a buyout situation is the terms. They (Evan and the VCs) would not have such favorable terms as the IPO where they received substantial stock grants, liquidation preferences and retain absolute control over the company without requiring a large (any) financial interest.
- saimiam 9y agoWhat does he know that the rest of the world doesn't? I'd be on the lookout for insider buying filings