Snapchat's two 20-something founders are each worth ~$4 billion - more than Facebook offered to buy their whole company 4 years ago
Advertisement
AP
Advertisement
Snapchat's parent company, Snap, is going public on Thursday, and each founder's stake in the company will be worth more than what Facebook offered for the entire company. Back in 2013, Facebook CEO Mark Zuckerberg offered $3 billion, which Spiegel turned down.
Snap priced its IPO at $17 a share, awarding the company a $24 billion valuation. According to its S-1 filings, Spiegel and Murphy own the most shares.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
With a projected value of $17 a share, Spiegel will now be worth around $4.49 billion, which includes the extra 3% of stock he'll get when it goes public.
Murphy will be worth around $3.86 billion.
Advertisement
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- Private Equity Investments
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study