Jim Cramer on Snap's Ad Revenue
Jim Cramer breaks down the value of Snapchat's ad business on the day of the company's IPO.
Snap Inc. is one of 2017's most anticipated IPO's. But the company has some investors wondering what it is really worth.
Jim Cramer looks at Snap's (SNAP) - Get Report ad revenue. He compares it to Facebook (FB) - Get Report and Twitter (TWTR) - Get Report .
The company priced shares above the expected range. Based on an official share count of 1.16 billion, the IPO pricing gives Snap a $19.7 billion valuation. But after factoring accounting for the many stock options and restricted stock units (RSUs) set to vest, Snap is assigned a $23.6 billion valuation.
