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Snap! Acquired is live on the scene reporting from the "Super Bowl" of 2017 tech events: Snap Inc's hugely anticipated (and just plain huge) IPO. What does the future hold for this plucky \u201ccamera company\u201d? Will Snap's IPO endure as tech's most important picture-frame since the \xa02012 debut of Facebook, or is it destined to fade as just another snapshot? We debate!\xa0

Sponsors:
ServiceNow: https://bit.ly/acquiredsn
Statsig: https://bit.ly/acquiredstatsig24
Vanta: https://bit.ly/acquiredvanta

• Reference to our previous Acquired episode on Snap covering Facebook\u2019s failed attempt to acquire the company in 2013, which goes deep on Snap\u2019s origins and early history
• Snap\u2019s busy years since: launching Discover, \xa0Lenses, \xa0Geofilters, \xa0new Chat, \xa0Memories, an \xa0ads API, acquiring Bitmoji, and, of course, \xa0debuting Spectacles
• The incredible document that is \xa0Snap's S-1 filing (read starting from the \xa0\u201cBUSINESS\u201d section on p.93)
• Snap Inc\u2019s \u201cunique\u201d voting structure
• Evan Spiegel\u2019s \u201cCEO Award\u201d bonus for successfully completing an IPO: an extra 3.0% of the company worth more than $600M
• Snap\u2019s IPO pricing, first day of trading \u201cpop\u201d, and momentum carried into day two\xa0
• Introducing a new show section (for IPOs): Narratives! \xa0
  • Snap \xa0is a \u201ccamera company"
  • Snap's opportunity is \xa0winning television ad dollars
  • Snap is a cult of the \u201cproduct genius\u201d
  • Snap has a growth problem\u2026 and its name is Instagram (Stories)
  • Snap has a cost problem: the (first?) \xa0gross margin negative IPO
  • Wall Street to Evan: \u201cwe trust you\u2026 for now"
• Chris Sacca\u2019s biggest email fail of 2012
• \u2026And of course all the classics from the Acquired canon: waves, moats, flywheels, network effects, starting small and more!\xa0

\xa0 The Carve Out:\xa0

• Ben: \xa0The Bill Simmons Podcast with Ben Thompson
• David: The Art of War, also Evan Spiegel\u2019s Carve Out for 2013 :)