Weekly New and Digital Homework

                  Snapchat shares soar 44% to value loss-making company at $28bn

Link: https://www.theguardian.com/technology/2017/mar/02/snapchat-ipo-valuation-evan-spiegel-bobby-murphy-snap-inc

Summary:

Snapchat had been valued at $28 bn, where the stock market closed the price per share for Snapchat was $26.05 a piece. This had resulted in investors feeling more comfortable with Snapchat's ability to 'push'a new generation of successful firms.  

Statistics:

• it reached $26.05 and a market value of $29.1bn
• 158 million people use the service each day and create 2.5bn “snaps” between them
• Growth has slowed recently (to “just” 48% year-on-year) 
• the company’s share price rose 41% from its guide price of $17 a share to an opening price of $24

Own view:

It seems that Snapchat is the future of both tech as well as social media. It has rather become the centre of the picture and seems to have taken Facebook's place. Snapchat is now aiming to become a bigger tech firm with all the revenue/profits it is making, which in turn can allow it to compete with other conglomerates such as Google.