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Alternative Market Briefing

Comment: Snap is more like YouTube 2.0

Tuesday, February 21, 2017

Matthias Knab, Opalesque:

IPO Candy writes on Harvest Exchange:

Now that we've had a chance to puzzle over the Snap roadshow (you can see the Snap slides here and we have done a full transcript of the Snap roadshow ) there are a few more things to say about the deal:

  • Snap is trying to shift from being a product to being a company. It will take time to find out whether they can do it. That does underscore just how pivotal this IPO is for the company. For example, Facebook made the transition while GoPro, Twitter, Fitbit and Groupon have not.
  • As we noted in our The Skinny on the SNAP S-1 they are positioning themselves as a "camera company" rather than "social media." There's more detail in the roadshow about what this might mean in terms of content. Snap might be more about how we reimagine "TV" rather than pictures, messages and status updates. Hence the title of this post.
  • This short-form video content is a mix of professionally produced material and user-generated content . The result is different, engaging and unique to the platform. Organizations like the BBC, ESPN, Comedy Central and HBO are creating some of the professional content that users are viewing on Snap. It's early days but it feels like YouTube 2.0. The roadshow video is weird. It's patterned like the Facebook IPO video which is more talking heads and fe......................

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