SNAPCHAT
About:
The billionaire Saudi prince
announced in a tweet on Tuesday that he had invested $ 250 million in the
company on May 25. He had paid $ 11 per share. Rajkumar gradually made his
stake, completed it in May when the snap stock was near his low EBB. Snapchat
is one of the most innovative social media platforms in the world, and we
believe that it has started scratching the surface of its true potential and we
are happy to be part of it, Alwaleed said. This is a popular mobile app that
allows you to send video and pictures, both of which will destroy themselves
after a few seconds of viewing them. It can not be used regularly and is only
available as a mobile app that you can download in your iPhone or Android
smartphone. We hope you like this post and we hope you get some important
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Saudi Prince Alwaleed acquires 2.3% stake in Snapchat
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Description:
The statement of the press
release is that before the release of earnings, Al-Walded bought nearly $ 11
shares of shares of $ 13.10. This means that he had bought $ 17 billion below
the market cap for a $ 14 billion valuation before earning, before earning was
about $ 15.7 billion dollars. Prince Alwaleed bin Talal of Saudi Arabia
announced immediately after the second quarter results that he had finalized a
$ 250 million deal in May to buy a 2.3 percent stake in Snap. Snap is working
to persuade large advertisers to spend more of their budget on snapchat ads,
and primarily reached the app's app base for 18-34 year old users, and analysts
beat revenue forecast because it More international and small business
advertisers have attracted.
The company refused to
comment on the news, but after the initial decline, the earnings of 11 percent
were announced, the snap was dropped just below the stock because Saudi users
were stopped in terms of shrinking and investing.
Al-Waqar Talal is the first
US. Have arrived in the Tech Sector, who are investing in life and Twitter.
Elsewhere, he has recently invested in European streaming music service
detergent, as well as in Chinese Ecommerce Junk JD.com. He first owned the
ownership of NewsCorp and Citigroup.
Snap may be looking for
foreigners and colleagues because it has seen weak international developments
after years of ignoring the performance of the developing world and its Android
app. While the rest of the world is generally the source of the development of
the social network, snap actually has a decrease of 1 million daily active
users. The really bright point of your earnings report, the average revenue per
user in the rest of the world was above 65 percent quarter-on-quarter growth,
which reached $ 0.96. The involvement of the Saudi royal family can potentially
pave the way for partnership or development opportunities in the Middle East,
whenever it needs help of snap, it should be done.
Extra cash will expand the
snapchat's runway and it will take more time to stabilize its business. With
its daily user count, it is now decreasing, it has to find creative ways to
cash more cash than those able to increase revenue. It may take time, and Saudi
Arabia gave it more.
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