Snap’s hotly-anticipated IPO is going to make a lot of money for its founders, investors and early employees.
The company just priced its IPO at $ 17 a share, awarding the company a $ 24 billion valuation.
According to its S-1 filings, Snap’s co-founders Evan Spiegel and Bobby Murphy own the most shares.
Benchmark will also see some healthy returns, with its early investment a few years ago now worth a whopping $ 2.24 billion.
Here’s the list of Snap’s major shareholders at its IPO and what the value of their stake would be at $ 17 a share.
Note: This doesn’t include shares that haven’t vested by the time it goes public (including a $ 145 million stock bonus for Imran Khan), but does include Spiegel’s bonus that he’ll receive immediately upon IPO.
Evan Spiegel, Snap cofounder and CEO: $ 4.49 billion
Projected value at $ 17 a share: $ 4.49 (which includes the extra 3% of stock he’ll get when it goes public.)
Class A shares: 113,164,485
Class B shares: 5,862,410
Class C shares: 107,943,924 + 37,232,102 granted as a bonus for going public
Evan Spiegel launched Snapchat with Bobby Murphy in September 2011. Described as a product visionary to rival Steve Jobs, Spiegel holds the title of CEO at the company and has set up its share structure so he and Murphy will retain control in the future too.
Bobby Murphy, Snap cofounder and CTO
Projected value at $ 17 a share: $ 3.86 billion
Class A shares: 113,164,485
Class B shares: 5,862,410
Class C shares: 107,943,924
Murphy and Spiegel were frat brothers at Stanford when they cofounded the app and have grown it to a company much larger than just disappearing messages. While Spiegel is described as a product genius, it is Murphy who is leading a lot of Snap’s cutting edge work in its Snap Labs division.
Benchmark
Projected value at $ 17 a share: $ 2.24 billion
Class A shares: 65,799,720
Class B shares: 65,799,720
Benchmark is the largest venture shareholder in Snapchat, thanks to the round it lead in 2013. “We believe that Snapchat can become one of the most important mobile companies in the world,” Benchmark’s Mitch Lasky wrote in a blog post at the time of the deal.
See the rest of the story at Business Insider
