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Episode 32: The Snap Inc. IPO

Acquired

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The Cost of Revenue in 2016 Was Four Hundred and Fifty Two Million Dollars

Snapchat may be the first company to file for an IPO that has a cost of revenue alone higher than revenue in the trailing 12 months before IPO. It's almost entirely due to, to infrastructure costs. And I think the way that Snap wants you to view this is we are paying a lot of money to stay nimble right now.

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