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Evan Spiegel's Snapchat to hit the Stock Market in Dhs11 billion IPO

Evan Spiegel's Snapchat to hit the Stock Market in Dhs11 billion IPO

Snap stock for sale

Text: Shannon Wylie


Image: Buro 24/7

Investing in social media will take a new direction as Snapchat get ready to make Stock Market history...

Snap Inc. Founder, Evan Spiegel, has just hit headlines following his move to take Snapchat public with a Dhs11 billion IPO (initial public offering) deal. The 26-year-old entreprenuer filed the request under his new company Snap Inc, in a bid to challenge Instagram Stories and raise the profile of his tech company. 

Following the IPO, which is said to be confirmed within weeks, Spiegel is set to follow in Mark Zuckerberg's footsteps with a salary of just Dhs3.67 per year, despite an earning of Dhs8.82 million in 2016.

Speaking about the new direction, Spiegel says: "Snap Inc. is a camera company. Our products empower people to express themselves, live in the moment, learn about the world, and have fun together."

Watch this space.

 

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