Interesting choice of industry sector by the co-founders of Snap Inc. So many bankrupt camera companies come to mind. Especially when they could have gone down the road of portraying itself as a social media company, or a networking company, or even a communication company. Is SNAP already waving the white flag? Or preparing for the end of the current social media stock boom?Read More
Assuming there are enough voting shareholders to meet an AGM quorum, why does the Snap Board of Directors invite the non-voting Class A shareholders? Seems like a token gesture and while the prospectus makes a big deal of the invitation it does not explain why the gesture is made.
A compelling case could be made that the best thing for non-voting SNAP shareholders would be to do away with the pretence of holding an AGM and distribute the AGM cost savings to Class A shareholders in the form of a dividend.