![]() ![]() “First, Facebook’s success is an anomaly. ![]() “While the company’s optimism for its potential growth makes sense given the trajectory of previous social media darlings, there’s reason for caution,” said Jessica Liu at Forrester Research. “Investors are optimistic about the company’s revenue growth, so while there’s some uncertainty, they still want this stock in their portfolio.” “The stock market conditions are good, there’s cash available on the sidelines so the market will welcome an offering like this,” said Josef Schuster, founder of IPOX Schuster, the index provider. But Sir Martin Sorrell, chief executive of WPP, the world’s largest advertising company, called Snapchat “very important” and said: “I think it’s a defining moment in that it could well be the third force” against Google and Facebook. Nor, unlike its far larger rival, is it profitable. Snap’s revenues last year were just a fraction of Facebook’s $27.6bn. Evan Spiegel and model Miranda Kerr attend the 2016 pre-Grammy gala on 14 February 2016 in Beverly Hills, California. ![]()
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