Snap Inc, the parent company of the social media app Snapchat, will see its stock trade on the New York Stock Exchange for the first time ever on Thursday.
Here is a summary of the "five Ws" that many investors are asking.
Snapchat is a popular social media platform initially released in September of 2011.
What's unique about the social media app is that pictures and messages sent between users are only visible for a short period of time before it vanishes.
Snapchat changed its name to Snap Inc in 2016 to reflect the fact that it is more than just a social media platform — it began selling a pair of smartglasses with a built-in camera called Spectacles.
Today, the majority of Snap's revenue is derived from three different advertising options.
Advertisers find the platform attractive given its 158 million average daily active user base.
Snap is led by its CEO Evan Spiegel who is praised by some tech experts as being a superior visionary and leader compared to Facebook Inc (NASDAQ: FB)'s CEO Mark Zuckerberg.
Related Link: Snap's IPO Draws Comparison To Twitter, GoPro
The details Snap's initial public offering has been finalized on Wednesday.
The company has priced 200 million shares at a price of $17 per share for a total offering of $3.4 billion.
Some tech experts have expressed concerns over the pricing of the IPO.
Thursday. The timing of the IPO will occur shortly after the opening bell at 9:30 a.m.
Any investor with access to buy and sell equities on the U.S.
Snap IPO at NYSE: Here's What Happened & Who Got Paid
markets will be able to buy Snap's stock for the first time ever.
Snap, like every other company that files for an IPO, does so to raise capital.
The company said in its regulatory filing documents in early February that it will use the proceeds of the IPO for general corporate purposes, including working capital, operating expenses, and capital expenditures.
Snap added it may also use some of the proceeds to acquire complementary businesses, products, services or technologies although there were no commitments to do so as of the early February.
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