Pro: Snap's Numbers 'Don't Look Pretty'

Aspect Ventures' co-founder Theresia Gouw was a guest on CNBC's "Squawk Box" segment on Wednesday to offer her expert take on Snap's upcoming IPO.

Snap, the parent company of the Snapchat social media app, has one key metric working in its favor, namely the 2.5 billion daily "Snaps." According to the venture capitalist, this is the more important metric to look at and not the 150 million daily active user base. In fact, the billions of daily Snaps is impressive in comparison to the company's much larger social media peers.

"They have something that is valuable among millennials and the content they are creating," she emphasized.

Related Link: We Now Have Full Details Of Snap's IPO

However, this doesn't take away from the fact that Snap's financials, including negative gross margins and widening losses "don't look pretty."

To Buy Or Not To Buy?

Gouw noted that investors who bought a stake in the company at a very early stage will do well since its valuation has soared over the years.

For new investors, it is possible to make money but there is a major condition attached. Specifically, Gouw takes a five- to 10-year timeframe in investments and suggested that Snap will perform well over time if the company can retain the attention and interest of its valuable millennial base.