Category Archives: snap inc

Zoom increases IPO price range ahead of Thursday listing

Zoom, the developer of video conferencing software, plans to list its shares on the Nasdaq under the ticker symbol “ZM” at between $33 and $35 apiece, per an updated S-1 filing. The company has also announced plans to sell $100 million in Class A shares to Salesforce Ventures at the initial public offering price. The latest price range is a step up from Zoom’s earlier plans to charge between $28 and $32 per share. Zoom plans to sell 9,911,434 shares of Class A common stock in the […]

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The Wing poaches Snap’s comms director

Women-focused co-working space The Wing has hired Rachel Racusen as vice president of communications. Racusen has been the director of communications at Snap, the developer of Snapchat, since late 2016. Racusen’s exit represents the latest in a series of departures at the “camera company.” Earlier this year, the company’s chief financial officer Tim Stone stepped down. Shortly after, The Wall Street Journal reported that Snap had fired its global security head Francis Racioppi after an investigation uncovered that he had engaged in an inappropriate relationship with an […]

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Unicorns aren’t profitable, and Wall Street doesn’t care

In Silicon Valley, investors don’t expect their portfolio companies to be profitable. “Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies,” a bible for founders, instead calls for heavy spending on growth to scale in an Amazon -like fashion. As for Wall Street, it’s shown an affinity for stock in Jeff Bezos’ business, despite the many years it spent navigating a path to profitability, as well as other money-losing endeavors. Why? Because it too is far less concerned with profitability than market opportunity. Lyft, a ride-hailing company […]

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