Snap Inc., the parent company of image and video sharing app Snapchat, reported their quarterly financial results for the first time since going public on Wednesday, and it isn’t pretty. Snap’s user growth slowed down and revenue was below Wall Street expectations for the quarter.
As Snap Inc., the company behind the ephemeral photo sharing app Snapchat, prepares for its Initial Public Offering (IPO), the company is filing papers that call out rival Instagram and reveal profitability may never be a part of Snapchat's future.
Yesterday, the moment for which GoPro has been preparing for the last several months arrived: CEO and Founder Nick Woodman rang the bell on the trading floor, and the company went public.
GoPro pulled in more than $1 billion last year, and as the company prepares to go public, all eyes are on the action cam king to see what kind of price tag it receives. Well, now we have a figure, and according to Bloomberg, it rings to the tune of $3 billion.
The story of GoPro's humble beginnings is an interesting one, and if you've not heard it we definitely suggest you click on this link and watch the video there before going on. But today's news isn't about those humble beginnings. It's about the meteoric heights to which the company has climbed.
Announced at market close yesterday, the former one-man surf camera operation and current action cam king has officially filed for a $100 million IPO.
GoPro's rise to the undisputed title of action camera king has been nothing short of meteoric. The company has gone from an operation out of founder and CEO Nick Woodman's van, to a massive company that expects revenue to top 1 billion this year (a great story that you can find out about here) and now they're hoping to make the jump to a publicly traded company.