I was a little off on the numbers. Snap posted a $2.2B loss in Q1 of 2017, it's first quarter as a public company. A lot of that was one-time stock payout to v

I was a little off on the numbers. Snap posted a $2.2B loss in Q1 of 2017, it's first quarter as a public company. A lot of that was one-time stock payout to various employees, including a massive bonus to Spiegel which was 3% of Snap worth roughly ~$550mm at the time. If you take out all the one time stock compensation from that quarter, the loss comes out to $188mm. Here's a Recode article with some sources: https://www.recode.net/2017/5/10/15617740/snapchat-two-billion-loss-evan-spiegel-stock-compensation-q1-wall-street https://www.recode.net/2017/5/10/15617740/snapchat-two-billi... The $700mm loss figure I initially stated for 2017 is likely the loss figure with the one-time stock expenses deducted: https://investor.snap.com/news-releases/2018/02-06-2018-211639653 https://investor.snap.com/news-releases/2018/02-06-2018-2116... This stock award made Evan Spiegel the highest paid CEO in America in 2017, that's the kicker.