Published: Thu, March 02, 2017
Technology | By Ramiro Moody

Snap IPO: Messaging app company seems to pass 1st major test

Snap IPO: Messaging app company seems to pass 1st major test

A drone could actually be the way of the future for Snap Inc., as the company moves away from just running the Snapchat app to creating consumer durables and other hardware.

The stock will start trading Thursday, listed on the New York Stock Exchange under the symbol SNAP. Snap seems like it's willing to do anything or say anything that might prevent its IPO from becoming one of the biggest tech industry blunders, instead of one of the major successes that founder Evan Spiegel once expected. "Older groups are now more likely to tune in for content".

Appealing to older people is a good thing for a digital product aimed at the young if it helps boost the total number of users, as long as the thing doesn't develop a reputation as an app for Mom and Dad.

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Last year, the company presented its Spectacles, which allow users to take short video clips through the sunglasses.

Evan Rodriguez, a 20-year old student at Texas Abilene Christian University, used to send snaps of amusing stuff he saw throughout the day, just as his friends did.

Since Snapchat was never about typing, the phone's camera is already its main focus. Like Spectacles, a drone could be marketed towards events: a music festival drone, for example, sending exclusive aerial pictures and video to each attendee. (Snap made Spectacles available for purchase online late last month after the device was initially only available at pop-up vending machines). For many potential investors, it remains unclear what it is, exactly, that Snapchat can deliver, aside from a messaging app that must now compete with Facebook and a potential hardware product that may have no objective except to stoke interest in its I.P.O. Because the images you send eventually disappear, there's less pressure to put forward your best self. Now, the social media app maker employs nearly 2,000 workers and is about to become a publicly traded company. While its app has proven immensely popular, there was some question as to how Snap would ultimately live up to its multi-billion dollar valuation and make investors money.

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