Snap Inc. to Raise $750 Million USD in Debt Offerings

Shortly after the company posted positive results for Q1 of 2020.

By
Tech 
3,101 Hypes 3 Comments

After reporting positive results in Q1 2020 involving the increase of users and revenue, Snap Inc. is now looking to raise up to $750 million USD in private debt offerings. According to an internal message from CEO Evan Spiegel, the company hopes to secure more stability and ensure its long-term growth with the new debt securities, which will mature May 1, 2025.

“This is a strategic, opportunistic capital raise to help us continue achieving our vision for the long-term,” the statement says. “Convertible notes remain an efficient vehicle to raise capital, and investor demand for these types of convertible notes remains strong in the current environment.”

Spiegel continued: “We still have lots of work to do, and remain excited about our long-term opportunity. The proceeds from this offering will further bolster our balance sheet which will allow Snap the flexibility to continue to invest in the long-term growth of our business, even if challenging conditions continue.”

In other tech news, Apple is rumored to release a lower-priced 23-inch iMax and 11-inch iPad.

Read Full Article

What to Read Next

Four Point Honors Earth Day With 26.5-Inch Planet Puzzle
Design

Four Point Honors Earth Day With 26.5-Inch Planet Puzzle

A perfect pairing with its Moon puzzle.

Travis Scott Debuts Kid Cudi Collab "The Scotts" During 'Fortnite' Concert
Music

Travis Scott Debuts Kid Cudi Collab "The Scotts" During 'Fortnite' Concert

Now available on streaming platforms like Spotify and Apple Music.

'WWE 2K21' Is Cancelled
Gaming

'WWE 2K21' Is Cancelled

Announced by a WWE top exec during an investor’s call.


Taiwan's Emerging Bag Brand SEALSON Launches Versatile 2020 Bag Collection
Fashion

Taiwan's Emerging Bag Brand SEALSON Launches Versatile 2020 Bag Collection

For both urban and outdoor lifestyles.

Charli XCX Captures Love in Lockdown With New "claws" Single
Music

Charli XCX Captures Love in Lockdown With New "claws" Single

Her upcoming quarantine album ‘how i’m feeling now’ will drop May 15.

Detailed Look at the Nike Air Fear of God 1 "Noir"
Footwear 

Detailed Look at the Nike Air Fear of God 1 "Noir"

Another stark style from Jerry Lorenzo and Nike.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.

Help Support Us

We need ads to keep the lights on and to continue providing free news to our readers. We’d appreciate your support by whitelisting HYPEBEAST on your ad blocker. That way you can keep reading all the great stories for free.

If you have already whitelisted us, simply refresh this page. To find out how to whitelist us, click the button below.

Back

Add Us to Whitelist

We appreciate your support in allowing HYPEBEAST ads. Most ad blockers have similar whitelisting steps and settings. If you need assistance, please contact us.

Adblock Plus

  1. Click on the red ABP icon in the upper right corner of your browser.
  2. Click “Enabled on this site” to disable ad blocking for the current site. In Firefox click “disable on HYPEBEAST”.
  3. Refresh the HYPEBEAST page that you were viewing.

Adblock

  1. Click the AdBlock hand icon.
  2. Click “Don’t run on pages on this domain”.
  3. A new “Don’t run AdBlock on…” dialog may be displayed in the middle of the screen.
  4. Move the “Site” slider to the right. After that, click “Exclude”.
  5. Refresh the HYPEBEAST page that you were viewing.

uBlock

  1. Click the uBlock icon.
  2. Click the large blue “power” button in the menu that appears to whitelist the current website.
  3. Reload the HYPEBEAST page that you were viewing.

Firefox Browser

Firefox Tracking Protection may activate our whitelist notice, which can be disabled temporarily for a browsing session by clicking the shield icon in the URL bar and following the instructions.

Disconnect

  1. Click the Disconnect icon.
  2. Click “Whitelist site”.
  3. Refresh the HYPEBEAST page that you were viewing.