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Snap Inc.'s Evan Spiegel at Code 2022

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CHAPTER

Is It a Good Idea to Buy a Venture Capitalist?

I think this was the logical step forward in being an independent company. We raised a lot of money from venture capitalists, I guess our first investor invested at a $4.25 million valuation. Venture investors are short-term investors. They invest for a couple of years, and then they rotate out of their investments. And so we were able to transition inherently short-term Investors to long-term investors by going private. That's the right thing to do to build our business. Despite that are being a little volatility that comes with that, ultimately that's the right way to go.

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