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Episode 32: The Snap Inc. IPO
Acquired
Snapchat Is the Next Big Thing
This company was gross margin negative. That means they were selling dollars for 50 cents, uh, or 90 cents or whatever until like a couple months ago and they are now a 35 billion plus market cap public company. And it's not just like Twitter where they weren't profitable because of their massive operations. Like going public without being net income positive is a common thing. But going public while being gross margin negative is a very uncommon thing. Yeah. David, if you have any dollars to sell me, I got, uh, I got50 cents for you and then go run a business off that revenue. I am a VC.
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