In a couple weeks, Snapchat will IPO and be the next great media-tech unicorn in the financial world. The two ex-fratstar co-founders of $SNAP, Evan Spiegel and Bobby Murphy, will become *actual* billionaires with their equity in the public markets and not just on paper. According to paperwork filed this week, the company is IPOing at a share price between $14 – $16, with a total company valuation between $19.5 – $22 billion.
So how much cheddar is Evan raking in for his company? A LOT, especially when you consider a $750 MILLION bonus for bringing the company public. Here’s a breakdown from Recode:
Assuming a $16 share price — and this could change quickly once the company hits the open markets — here’s the projected value of stakes held by key executives and investors.
- Evan Spiegel, CEO and co-founder — $4.22 billion (this includes a bonus Spiegel is set to receive, paid out over the next three years
- Bobby Murphy, CTO and co-founder — $3.63 billion
- Benchmark — $2.11 billion
- Lightspeed Venture Partners — $1.37 billion
- Tim Sehn, VP of Engineering — $108 million
- Imran Khan, Chief Strategy Officer — $45 million
Speaking of Snapchat, this morning I went down to the New York Stock exchange to talk about the time Evan Spiegel pitched BroBible about the app during his Stanford fraternity days.
Here’s the e-mail we received back in the day pitching Snapchat when it was still Picaboo, along with said picture of the fratstars behind Snapchat: