- Lucas Jackson/Reuters Pictures
This is a special Snap Inc.-themed edition of Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
Snapchat’s parent company Snap Inc. on Thursday set in motion what could be the biggest tech flotation in years. Here’s what you need to know:
Snap files for its IPO, revealing surging sales growth and huge losses Here’s who is going to get rich from the Snap IPO Snap is asking investors to put a $25 billion valuation on two people Snap lost $514 million last year and warns that it “may never be profitable” Here’s everything you need to know about how many people are using Snapchat Snap blamed its slower user growth on “technical issues” in its product updates Analyst: There’s one really troubling thing about Snap’s business right now Here’s how Snapchat thinks strategically about “reinventing the camera” Snap has got big plans for its “Spectacles” camera-glasses in 2017 SECRECY, CONTROL AND ‘KINDNESS’: What the Snapchat IPO tells us about its corporate culture Snapchat cited its scattered beachfront offices as a risk to employee morale Snapchat CEO Evan Spiegel was paid millions last year – his security detail alone costs a small fortune Snapchat loaned its founder $15 million last year and he paid it back in seven months A former Wall Street analyst made a $145 million trade of a lifetime to join Snap How Snapchat’s first investor found Snapchat when it had less than 100,000 users Snapchat paid its third cofounder $158 million in cash to disappear The alleged betrayal in these photos, texts, and emails cost Snapchat $158 million This fratty email reveals how CEO Evan Spiegel first pitched Snapchat as an app for “certified bros” Here are all the key charts and images you need to see from Snap’s $3 billion IPO