5 ms·
Not sure I understand. The IPO of Snap raised $3.4 billion w a valuation of $24 billion. Evan Spiegel has (maybe not this month) a net worth of over $2 billio
by dillonmckay 7y ago
Not sure I understand.
The IPO of Snap raised $3.4 billion w a valuation of $24 billion.
Evan Spiegel has (maybe not this month) a net worth of over $2 billion.
Zuck was offering $3 billion.
- namdnay 7y agoWithout contradicting your general point, Spiegel’s bet worth is so illiquid (so solid? :) ) that I’m not sure what it really would be if he wanted to get cash out
- vxNsr 7y agoI'd guess that a lot of the offer was in SO. so also illiquid. Though FB stock is worth way more than Snap stock so he probably made the wrong choice, but who knows.
- likpok 7y agoFB is less illiquid than SNAP for Evan. If he sells 50% of his SNAP shares, people will get concerned about his investment in the business. A mid-level exec (or even high profile acquisition) selling a bunch of FB stock doesn’t affect the price much. But he probably likes running the company more than he’d like the extra money.
- dillonmckay 7y agoThat is the key, he still had cash and control of a platform. Very different situation for Jack Dorsey w/ Twitter.
- bognition 7y agoIn 2014 FB stock was $20/share. Now its closer to $200/share, so a $3B offer in 2014 roughly translates to a $30B valuation today. From the financial side it appears that Snap made the wrong choice.