Apart from Temasek Holdings, Fidelity Management & Research and Coatue Management were among the list of investors
Singapore state investment firm Temasek Holdings is one of the institutional investors detailing stakes in Snapchat’s parent company Snap, according to filings with the US Securities and Exchange Commission revealed on Monday.
According to Bloomberg data, Temasek owns 300,000 shares which would account for 0.04 per cent of Snap’s 682.1 million shares outstanding as of April 30.
Apart from Temasek, Fidelity Management & Research and Coatue Management were among the list of investors, with the two companies reportedly participated in pre-IPO funding rounds for Snap.
Snap has been making headlines last week when its value plummets to nearly a quarter, following a reported US$2.2 billion loss and slowing growth.
Wednesday was the first time the company had to share their earnings publicly as a consequence of their IPO in March.
With a value of US$28 billion, The Guardian reported that the shares closed on Wednesday at US$22.98 and fell close to 25 per cent in after hours trading.
The fall continues on Thursday as it closed at $18.05, a loss in value of close to US$6 billion.
Snap’s loss is seen as a victory for Facebook as it continues to “push into Snap’s territory” with the launch of similar features on its platforms such as Whatsapp and Instagram.
Snap CEO Evan Spiegel had spoken about the company’s refusal to use growth hacking techniques, as used by many other companies, including the use of push notifications.
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