20. February 2017–
Snap’s hotly-anticipated IPO is going to make a lot of money for its founders, investors and early employees.
The company is seeking to price its share sale at between $14 to $16 a share, although that could always go up (or down) before its anticipated IPO on March 2.
According to its S-1 filings, Snap’s co-founders Evan Spiegel and Bobby Murphy own the most shares.
Benchmark could also see some nice returns, as one of the company’s top shareholders.
Here’s the list of Snap’s major shareholders at its IPO and what the value of their stake would be at $16 a share.
Note: This doesn’t include shares that haven’t vested by the time it goes public (including a $145 million stock bonus for Imran Khan), but does include Spiegel’s bonus that he’ll receive immediately upon IPO.
Evan Spiegel, Snap cofounder and CEO: $4.2 billion
Projected value at $16 a share: $4.2 billion (which includes the extra 3% of stock he’ll get when it goes public.)
Class A shares: 113,164,485
Class B shares: 5,862,410
Class C shares: 107,943,924 + 37,232,102 granted as a bonus for going public
Evan Spiegel launched Snapchat with Bobby Murphy in September 2011. Described as a product visionary to rival Steve Jobs, Spiegel holds the title of CEO at the company and has set up its share structure so he and Murphy will retain control in the future too.
Bobby Murphy, Snap cofounder and CTO
Projected value at $16 a share: $3.63 billion
Class B shares: 5,862,410
Class C shares: 107,943,924
Murphy and Spiegel were frat brothers at Stanford when they cofounded the app and have grown it to a company much larger than just disappearing messages. While Spiegel is described as a product genius, it is Murphy who is leading a lot of Snap’s cutting edge work in its Snap Labs division.
Projected value at $16 a share: $2.11 billion
Class A shares: 65,799,720
Class B shares: 65,799,720
Benchmark is the largest venture shareholder in Snapchat, thanks to the round it lead in 2013. “We believe that Snapchat can become one of the most important mobile companies in the world,” Benchmark’s Mitch Lasky wrote in a blog post at the time of the deal.
Lightspeed Venture Partners
Projected value at $16 a share: $1.38 billion
Class A shares: 43,314,760
Class B shares: 43,314,760
Lightstpeed’s Barry Eggers first heard about Snapchat from his daughter. Jeremy Liew sent Spiegel a message on Facebook about meeting up, right at the time when the company was about to run out out of money to pay the server bills. Liew flew to LA and wrote Snapchat its very first check.
Projected value at $16 a share: $108 million
Since joining in 2013, Timothy Sehn grew Snapchat’s software engineering team by more than 10x. Before joining Snapchat as its VP of Engineering, Sehn spent over a decade at Amazon, where he started as a software developer intern and left as an engineering director.
Projected value at $16 a share: $45.4 million
Class A shares: 1,418,868
Class B shares: 1,418,868
Imran Khan jumped from the banking world to the tech world in January 2015 when he joined Snap as its Chief Strategy Officer. His connections have already helped Snap get a $200 million investment from Alibaba — he was the lead banker for the Chinese retail company’s IPO — and Snap raised an additional $1.8 billion in May 2016. One of Spiegel’s direct reports, Khan’s main job at Snap is to lead its strategy and help chart its path to IPO.
This article was first published on Business Insider.
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