Yep worth $25 billion to these stupid fools on wallstreet, not even profitable and losing money hand over fist, yet so many tripping to buy shares....going to be really amusing to see where this fad goes in the next few years..... Snap officially filed for an IPO on Thursday, and told investors it "may never achieve or maintain profitability." Snapchat's revenue growth is astounding — and so are its losses. Here are the highlights. Net revenue: $404.48 million in 2016, up from $58.66 million in 2015 Net loss: $514.64 million in 2016, wider than $372.89 million in 2015 Loss from operations: $520.39 million in 2016, wider than $381.73 million in 2015 Usage: 161 million daily active users in the December quarter (60 million daily active users in the United States and Canada) Average revenue per user: $1.05 in the December quarter ($2.15 in North America) Time spent: 25 to 30 minutes a day Head count: 1,859 employees http://www.cnbc.com/2017/02/02/snap-ipo-s-1-filing.html
It's game over for Snapchat. Instagram has already duplicated the disappearing photo/video features of Snapchat in the current version (amongst other features), so it's lights out for Snap unfortunately. They should have taken the $2billion offer from Facebook years ago. By Snap's founders basically giving Facebook the middle finger on the buyout offer, all they did was give Facebook engineers plenty of time to duplicate everything on their own in Instagram.
They knew they were going to gain alot of more traction with investors coming in on the secondary market raising boat loads of money that's why I believe they never sold out to Facebook but like you said Instagram already has introduced disappearing photos and video features that Snapchat has...now all Instagram needs is about 100+ dumb filters so people can play on Instagram instead of Snapchat....I think social media is just completely saturated......let's see how quick Snapchat starts to fade away....those dumb looking spectacles that everyone was running to get are now being forgotten about....did Snapchat think they had a new revenue stream going with those doofy things...maybe for a day or two....let's see what they will do with all that IPO money....and not for nothing but what do 1900 employees do at Snapchat??? Always wondered how many thousands of people are needed to run such tech companies....
They make it so you can have a dog's ears and nose mapped to your face in your snap videos. Duh!!! That shit takes serious manpower.
Ha-ha....yea serious man power that probably pays 6 figures, plus stock options plus free lunch and dinner and all the foosball you can play....oh I forgot how much fun there is to be had at all these new 10-20 year old companies that demand no suit and tie and all the sleeping pods you can choose from!!
As a developer in tech, I can say while the filters look real simple to the end user, there's a significant amount of technical expertise and skill behind the development of it. Before you guys shoot down programming as a career choice, I'd suggest you try and code something that sells. Oh wait this is ET, where everyone makes a million by lunch.
I think we're saying the opposite. Being a developer of these features is awesome because you get to be creative, and you get the benefits that being associated with a large company brings, etc. but!!!.... at the end of the day you are shielded from the fact that although these features are cool, and although you are busting your ass and doing your job correctly, these features generate no profit for the company because the manpower it takes to create these features exceeds the revenue that the company generates from them, which is why snapchat and companies like it.... makes ZERO MONEY. Sorry, but as much as the Kardashians and all the other goofy celebriclowns want us to believe, mapping a cheetah head to your own faces just isn't worth $25 billion.
Yes. It all comes down to the basic ROI. How much does a company spend to do a thing, and then how much do they make back from that new thing?