All the sessions from Transform 2021 are available on-demand now. Watch now.
After peaking above $27 per share, Snap’s IPO highs have disappeared. Today the stock settled down to its initial public offering price: $17.
When Snap hit the New York Stock Exchange, the newly public company swelled to $24 per share on its first day at a reported valuation of $33.6 billion. The stock fell below $20 per share two weeks later, and has seesawed ever since.
We could play the blame game — and we will. Snapchat’s growth rate is lagging, and Facebook is getting better at ripping off the app’s trademark features. Snap has to compete with Facebook for the same ad dollars, and Facebook is very good at peddling ads.
But Snap has options; it could try growing faster (if that’s even possible), it could get better at selling ads (maybe by acquiring other companies), or it could drum up a new hype cycle with something Facebook can’t easily copy — what comes after Spectacles, anyway? For the short term, something quirky may be all investors are looking for.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more