Snapchat's Parent Company (Snap Inc.) valued at $24 billion on debut of IPO..!!
SNAP INC.
Credit: The Wall Street Journal
As Snapchat's Parent Company (Snap Inc.) prepares itself for a debut IPO at $17.00 per share, it values the company at $24 billion..!!
Crazy considering it made a +$500 million loss last year and even more considering Facebook offered $3bn only a couple of years ago.
Not bad for 5 years work..!!
A possible vision of where Steemit could be in 2021.
Thanks again for reading.
Stephen
This stuff is nutty to me... have people already forgotten the "dot-com bubble" bursting in 2000-01? Now, if it has the word "social" in it, people go over the edge like mindless lemmings.
I may be old fashioned, but "ideas" are pretty much meaningless unless they can be backed up by some kind of tangible execution. Otherwise, they are just trying to sell "air," which is actually all around us and free. It's "The Emperor's New Clothes," all over...
But hey, I'm open to the possibility that I am missing something...
Exactly. I could not agree more. That is why I made the blog. A company that is LOOSING +$500 million, has no clear revenue model and income, is valued at $24 billion, has the World gone bonkers..?? Stephen
At the moment I feel many tech startups have been overvalued. Too much money thrown, and you really wonder how many will actually live to be useful in 2 years, 5 years or even 10 years. But well, at least it shows that we're moving forward, and events can change a company or startup's outlook in a snap of the finger.
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I've looked into Snapchat's upcoming IPO and it poses interesting questions. Snapchat currently doesn't have any serious revenue model compared to other social networking apps. There is minimal advertising within the app, but I am still not completely convinced that the company has a viable means of gaining revenue as of currently. Thanks for posting!
That's why I shared it. I was going to give it a title..."Snapchat's Parent Company debuts at $24 billion as it makes a +$500 million loss. Has the World gone mad..!!" ...but decided to go with the one above. Stephen
To say the least SNAP does not look very promising at current valuation. I would rather buy more Crypto than this. FB had a terrible IPO as Zuckerburg off loaded shares it crashed to by over half that same year. At least with Crypto we are getting in on the ground floor! My Crypto holdings con't to outperform every stock market index 4 fold. Even though Steem has been a loser for me I believe strongly once Busy comes out its going way back up.
I couldn't agree more. This "fudged up" way of valuing things is so antiquated and archaic. It was great for the 1970's but this is 2017. Cryptocurrency is the future, not valuing in Fiat (debt based garbage)..!! Steem will outperform anything valued in Fiat, as it is DEBT FREE..!! Stephen