Katie Benner, Columnist

Benner on Tech: Investors Pile Into Snapchat

Katie Benner’s roundup of the most interesting things in tech, today.

June 1, 2015 at 1:32 PM UTC

Katie Benner is a Bloomberg View columnist who writes about technology, innovation, and the cult and culture of Silicon Valley. She lives in San Francisco. Benner previously wrote a tech and finance column for the Information. She has worked at Fortune, TheStreet.com and CNN Money, and was a freelance writer based in China covering culture, business and politics. She has a bachelor's degree in English from Bowdoin College.

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Based on Bloomberg’s report that Snapchat raised $537.6 million by selling common stock, it seems that investors really, really, really want to get into the startup. Most private companies with sky-high valuations -- this investment would put Snapchat at $16 billion -- sell preferred shares that come with, at the very least, guarantees that investors won’t take a loss, even if the company sells for much less than its optimistic private valuation.