Snap Inc. is the first major tech IPO in a while and the stock will trade on the New York Stock Exchange.
CGTN’s John Terrett reports.
Snap Inc. debuts on NYSE as company looks to growSnap Inc. is the first major tech IPO in a while and the stock will trade on the New York Stock Exchange. CGTN's John Terrett reports.
It’s main product, Snapchat, has been a hit with the 18 to 34 year old demographics. The company’s betting it can hold onto them while attracting older users too.
“Snapchat has fresh authentic content, user generated content, and about 60 percent of its user base contributes content everyday so that’s fresh and it’s moving, it’s fast and it’s temporary,” Santosh Rao with Manhattan Venture Partners said.
But Snap is facing stiff competition from Facebook, Instagram and other apps. Some of its ideas have been copied, so it’s not even unique.
The question now is, how can Snap Inc. grow its business sufficiently to boost the share price?
The answer, according to Rao, is that the platform lends itself to a lot of other things.
“It can have e-commerce in there, it can have payments in there, down the road maybe you can get some gaming in there. So it has two or three levers that they can pull to keep the user base engaged and monetize them,” Rao said.
DaRayl Davis talks Snap’s IPO and growth outlook
CGTN’s Rachelle Akuffo set down with DaRayl Davis to talk about Snapchat’s parent company, Snap Inc.’s first trading day and its future on the market.