Snap

SNAP

Snap Inc. is an American camera and social media company, founded on September 16, 2011, by Evan Spiegel, Bobby Murphy, and Reggie Brown based in Santa Monica, California. The company developed and maintains a number of technological products and services, namely Snapchat, Spectacles, and Bitmoji. The company was originally named Snapchat Inc. upon its inception, but it was rebranded on September 24, 2016, as Snap Inc. in order to include the Spectacles product under a single company.The founders own a combined 95% voting power (Spiegel with 48% and Murphy with 47%), which is undiluted and transferable to the other of the two when one retires or dies.

Snap has been a target of short sellers for a while. The current short interest of 7.24% is roughly at the average of the last 12 months (6.50%).