Tech Founders Want IPO Riches Without Those Pesky Shareholders

WALL STREET JOURNAL ASIA | on Mon, Apr 3, 11:39 PM

Companies that go public on the New York Stock Exchange usually celebrate by ringing the opening bell from a balcony crowded with executives and employees. Snap Inc. had only two: co-founders Evan Spiegel and Bobby Murphy, who control about 90% of the voting power in Snapchat’s parent. Snap was the first major company since at least 2000 to do an initial public offering in the U.S. that gave new shareholders no voting rights...

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