Snapchat parent-company Snap Inc. is preparing to launch one of the most anticipated IPOs the market has seen in years.
Despite the considerable excitement surrounding the offering, significant uncertainty persists around a company that lost $900 million in the last two years and indicated that it may never be profitable on its S-1 filing.
Mark Cuban told Benzinga he would be buying the company’s stock if he can get his hands on some shares. “They have shown more than any other platform app they can refresh the user experiences with new features,” said Cuban.
Related Link: Mark Cuban Will Buy Snap On The IPO, If He Can: 'It Can Be A Big Company'
Interest in Snap’s IPO is considerable, with over $10 billion in demand for the hot offering.
With the expected IPO date of March 1, Benzinga took a look at how Snap’s IPO sizes up to its social media competitors Twitter Inc TWTR and Facebook Inc FB entrance into the public market.
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Snap Beyond Social Media
Snap has looked to expand beyond its social media status, with its innovative Snapchat Spectacles product, which has been projected as a potential $5 billion product itself. Snap called itself a camera company in its IPO filing. There has also been speculation of a potential Snapchat smartphone in the future.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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