Underhyping Snapchat

The media, analyst and investor communities clearly have a love-hate relationship with Snapchat. In the run-up to its IPO, it was hailed as the next great technology company (in part due to Snap's own communication efforts). And now that its S-1 is out, the commentary has turned quite negative. As always, the truth is somewhere in the middle and public filings paint a very clear picture of why that is. The chart at the top of this post shows quarterly revenue for Snap compared with that of Twitter and Facebook, aligned by founding year (sourced from their respective IPO prospectuses).… [Continue Reading]