Days after releasing a "Roadshow" video to attract potential investors for its IPO, Snap Inc. has announced the online availability of its video-recording sunglasses, called Spectacles.
The social media company, which is best known for its short-lived image and video service Snapchat, has also closed its pop-up store in New York and activated a buy button on its Spectacles. com website.
Snap Inc. on Thursday filed updated paperwork with the U. S. Securities & Exchange Commission (SEC) detailing its eagerly-awaited initial public offering (IPO).
According to the social media company's SEC filing, it will sell up to 230 million shares with price tag range between $14 and $16 per share. That would generate up to $3.6 billion for the company.
Snap Inc., the parent firm behind the messaging app Snapchat, has filed its documents for an initial public offering (IPO) of stock with the U. S. Securities & Exchange Commission (SEC).
While the company didn't reveal how much it plans to ask for through its IPO, some reports have pegged the amount in the range of between $20 billion and $25 billion.
Snap Inc. reportedly filed the documents in 20166, but used a Jobs Act provision that allows firms with less than $1 billion in annual revenue to conceal their IPO plans from the public.
In an announcement made on Tuesday, Snapchat ephemeral messaging app said that it is rolling out an extension of the popular face-altering Lenses feature which was unveiled by the company in 2015.
Snapchat's new take on the Lenses feature - which allows Snapchat users to use animated overlays for embellishing their photos and videos - comes as part of the app's latest update; and is called 'World Lenses.'
Social media platform Snapchat is facing widespread criticism for a newly-launched 'yellowface' filter which promotes racist stereotypes of Asians.
The criticism being faced by Snapchat for the new 'yellowface' filter - which was launched earlier this week - marks the second widespread backlash which the company is facing for a filter in recent months. Earlier, in April, Snapchat was widely criticized for rolling out a Bob Marley filter which several people said was the equivalent of 'digital blackface.'
Snapchat has added a new platform called "Discover", which is going to prove a major news update podium for several of the news organisations. This will help the channels share various stories daily.
Snapchat is an app that allows users to share pictures that lasts for seconds at a time. But in a new move, the mobile application will now give its clients the prospect of sending cash.
In an announcement the photo-sharing service introduced its new payment service "Snapcash" in which the users can link their Visa or MasterCard debit cards to their own accounts.
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