Snapchat Hacking Worries Potential IPO Investors
Investors worry that the recent hacking of user names and phone numbers of Snapchat users could derail an IPO for the messaging service.
SnapChat is the latest hacking victim with 4.6 million usernames and phone numbers posted on SnapChatDB.info. Though the malicious site has since been suspended, developers have set up another website to help users find out if their information had been compromised. Gibson Security warned SnapChat earlier this week of weakness in the app's security. The hacking event worried investors hoping SnapChat would be the next Twitter and deliver a hot IPO. TheStreet's Debra Borchardt has details from New York.
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