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Replay Program

Tech

Snap Inc. keeps the grown-ups at bay

Opening sequence

Opening sequence

Tech

Snap Inc. keeps the grown-ups at bay

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COMING UP:Snap Inc. keeps the grown-ups at bay

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Transcript

00:00:02
>> Snap Inc, aka Snapchat is text's it company and as the messaging app prepares to go public, 26-year old CEO Evan Spiegel is tossing out the playbook and remaining at the helm. Defying the approach adopted by Facebook and Google of bringing in the grownups as it graduates from scrappy startup to public company.
00:00:22
Reuters Tech Editor, Jonathan Weber.>> Many investors really like the kind of founder CEO. A guy like Spiegel is very much regarded as a product visionary. He invented the company. He is the one whose really got the sense of how to develop this thing. He is supposedly very good at product development.
00:00:39
The draw back is they just don't have experience. And running a public company is very complicated matter because there's a lot more to it then just building a good app.>> At Google's, Sergey Brandon Larry Paige handed the reigns to Erick Schmidt for so-called adult supervision and at Facebook Mark Zuckerberg memorably brought in Sheryl Sandberg to help grow the company into the juggernaut it is today.
00:01:02
But not bringing in a seasoned suit isn't the only way Snaps debut is different.>> They're going out much quicker. A much earlier stage in their life cycle than either Facebook or Google did. And the fashion these days ensure core values to stay private as long as you can, raise private money, avoid the public markets and they are actually going against that trend.
00:01:23
So they are moving to go public as quickly as they can.>> As it tries to grow its appeal beyond its young core audience. An IPO is expected to help give Snap a more mature image that investors say will appeal to advertisers. According to sources ads are to help Snap rake in a billion dollars in revenue next year.