Wednesday, March 1, 2017
Snap's Big Winners: Spiegel, Murphy, Lasky, Benchmark, Lightspeed
Who are the big winners after the IPO pricing of Venice, California-based Snap Inc. on Wednesday afternoon? Obviously, co-founders Evan Spiegel and Bobby Murphy both have instantly been catapulted into the ranks of billionaires, with a net worth of $3.58 billion each in SNAP's publicly traded stock. Other big winners are venture investors Benchmark Capital, and General Partner Mitch Lasky, with just over $2.0 billion in stock after the IPO plus Lightspeed Partners with $1.39 billion in stock. Of particular note is the involvement of Lasky, who made his first fortune with another, Southern California mobile app maker--Jamdat Mobile--which he took public in 2004, and later sold to EA in 2006 for $680M. Lasky joined Snapchat's board in 2013.