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The company was named Snapchat Inc. at its inception, but it was rebranded Snap Inc. on September 24, 2016, in order to include the Spectacles product under the company name. [12] Snap is co-owned by Tencent (which holds a 45.43% stake) and NBCUniversal , a division of Comcast (whose stake is undisclosed).
He subsequently became the first investor in Snapchat. [1] The initial investment was $485,000, but in following rounds of investments, Lightspeed invested a total of $8.1 million into the app. This increased 250-fold in value to just under $2 billion at the time of Snapchat's IPO in 2017. [15]
Snapchat is one of the most popular social media apps among young people, averaging 306 million daily users. Learn about Snap Inc.'s market value and net worth.
In 2012, Lightspeed became the first venture investor in Snap Inc., a year after Snapchat was launched. [13] Snapchat raised $485,000 in its seed round and an undisclosed amount of bridge funding from Lightspeed Venture Partners in 2012. [14] Lightspeed Venture Partners was the fourth largest shareholder during Snap's IPO in 2017. [15]
It told financial regulators earlier this year in a filing that it intends to sell 200 million class A shares, which will come without voting rights.
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Khan joined Snapchat in 2015 as Chief Strategy Officer [6] where he directs the company's corporate strategy, including building up operations, expanding business partnerships, running ad sales and leading the company to its planned IPO. [12] In his first 30 months at Snap Inc., he helped grow revenue from $0 to $728 million. [13]
Over the long run, the stock market in general has proven to be a solid investment. Although bear markets are inevitable, the market has always gone on to make new highs, and it has never lost ...