From the archives, March 1, 2017: When Snap Inc. goes public, Snapchat co-founders Evan Spiegel and Bobby Murphy will retain control of more than 90% of the company’s voting rights. WSJ’s Shelby Holliday looks at how Snap’s rare share structure stacks up against other tech companies. Snap Inc. kicked off the planning for its hotly anticipated initial public offering last year with a brief address from its co-founder, Evan Spiegel, accompanied by a series of nonnegotiable conditions. Snap wouldn’t provide financial guidance on expected earnings. And it would sell shares with no voting rights, leaving the co-founders with near-total control of the company.

Source: Wall Street Journal November 09, 2017 17:39 UTC