Month: November 2016
Snapchat’s parent company reportedly files for IPO
November 16, 2016
There are multiple reports that Snap, Inc., the company that owns the messaging app Snapchat, is getting ready to go public. The company reportedly expects to be valued at up to $25 billion, and its IPO could serve to test the waters for other big tech companies that have been relying solely on venture funding.
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Facebook performs well, but hints at a slowdown next year
November 3, 2016
Despite stellar growth, Facebook shares dropped 7 percent in after-hours trading as some investors realized there will someday be a limit to how fast Facebook can grow. The company is on pace to reach $27 billion in revenue this year, with third-quarter profits nearly tripling to $2.38 billion. Monthly users grew by 16 percent to 1.79 billion — much of it international. But Facebook warned that next year it would reach a limit on how many ads it could place in people’s feeds. Many analysts fully expect a slowdown in growth in 2017.
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