How Wealthy Will Evan Spiegel Be Post-Snap IPO?
The Snapchat creator will likely be worth more than $4 billion.
Snap Inc. is reportedly set to go public on the New York Stock Exchange during the first week of March.
Now, thanks to an updated filing with the Securities and Exchange Commission (SEC), we now have have a clearer sense of just how wealthy the move will make co-founders Evan Spiegel and Bobby Murphy.
The makers of Snapchat write in the SEC paperwork that they estimate the initial public offering price of the stock will be between $14 and $16 per share.
By next month, the company could be valued between $18 and $22 billion, and if the stock price ends up being $16, Spiegel will have a $4.22 billion stake in the company, while Murphy's will be $3.63 billion.