Early this year, Snap launched their very first consumer gadget – USD 130 Snap Spectacles, which essentially allow any wearers to take circular videos and post them to their Snapchat accounts. In their press release, Snap proudly describes itself as “a camera company” that sells “toys” to the connected generation. Seemingly, Spectacles are a key piece of the company’s business…
Tag: Snapchat
Close to 50 percent surge for Snapchat IPO – driven by euphoria or real fundamentals? | Financial markets
Earlier this week, Snap through Morgan Stanley, Goldman Sachs and J.P. Morgan managed to sell 145 million shares in Snap at $17 a share and raised a total of $2.45 billion in cash. Much to some surprise, Snap actually managed to close at $24.48 at Day 1 of IPO, up $7.48 per share or a good 44% jump from its…