The founder of the communications app is worth about $ 4.5 billion.
Snap CEO Evan Spiegel sold roughly 2.7 million shares of stock last week, worth more than $ 50 million, which is his first personal stock sale since Snap went public last March.
The sale, which was executed as part of a pre-arranged sales plan that executives often use to avoid concerns over insider trading, was a small amount of Spiegel’s over holdings — a little more than 1 percent.
It’s not uncommon for public company executives to sell stock, but Spiegel’s sale is notable given that it’s his first since the company’s IPO. Spiegel and co-founder Bobby Murphy had previously pledged not to sell any shares in 2017, a promise intended to soothe any potential investor concerns around the time Snap’s employee lockup period ended.
Decisions by public company CEOs about when and how to sell their stock can be meaningful. Facebook’s Mark Zuckerberg rarely sold stock; until he started doing so to fund his philanthropy; now he sells regularly, so much so that he initially tried to split Facebook’s stock in order to ensure he could keep selling without losing company control. Twitter’s Jack Dorsey, on the other hand, has actually purchased stock on multiple occasions as a more symbolic way of showing faith in the company.
It’s too soon to know what Spiegel’s cadence will be, although he’s not in jeopardy of losing control of Snap: Spiegel and Murphy controlled a combined 88.5 percent of Snap’s voting power at the IPO. Spiegel’s net worth is around $ 4.5 billon.
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In the 16 months since its initial release in October 2016, Google’s Pixel family of phones has earned plenty of acclaim and scrutiny, but not very many sales. The latest update on Pixel sales comes from IDC’s Francisco Jeronimo, who notes that Google shipped 3.9 million Pixel and Pixel 2 devices in 2017. That’s no more than a rounding error when set against the global smartphone market that numbers 1.5 billion units, and it’s also less than a typical week’s worth of iPhone sales for Apple.
Though still comparatively tiny, Google’s Pixel sales are at least heading in the right direction. According to Jeronimo, the rate of sales has doubled in 2017, and the most recent data from Kantar Worldpanel agrees with this, indicating that Google’s…
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Counterpoint has revised its numbers and now says HMD sold 4.4 million smartphones in Q4 of last year. Neil Shah, an analysts at the company, says the 1% market share puts it just outside the Top 10 – Nokia is in 11th place. To put that in perspective, more Nokia-branded phones were sold in the last three months of 2017 than the following companies (individually): HTC Sony Google Alcatel Lenovo OnePlus Gionee Meizu Coolpad Asus The brand is seeing a resurgence in some markets. Nokia smartphones were #3 in the UK for the quarter and in the Top 5 in…
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Essential hasn’t talked much about how many of its Essential Phone it’s sold in the months since the device’s release, but because Essential is a new company and the Essential Phone is its first device, many people are interested in sales numbers. Today we may finally be getting an idea of the Essential Phone’s sales figures.
The Essential Phone shipped 88,000 units in 2017, according to Francisco Jeronimo, Research Director at research firm IDC. “@arubin’s @essential smartphone is still a long way from becoming a successful venture”, Jeronimo said.
Orders of the Essential Phone began in mid-August, and Essential sold the unlocked version of its device through various online retailers and its own online store. Essential also partnered with Sprint to sell the Essential Phone in Sprint’s stores.
The Essential Phone got a lot of hype in the months between its official announcement and its launch. Not only was it a new flagship Android Phone, but it was an attractive device with slim bezels made by a new company that was created by the co-founder of Android. While no one expected the Essential Phone to sell millions of units, sales of less than 90,000 units in 2017 suggest that the Essential Phone hasn’t gained much traction with consumers, despite Essential’s partnership with Sprint.
What will be interesting is seeing what Essential does differently with an Essential Phone 2. What do you think the company could do differently with a second device?
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