This may be the first time the word “sexting” has been included in an SEC filing.
Snap, the parent company of Snapchat, just released its IPO filing , and included that tidbit about how it was first dismissed as an app for sending nudes. There’s plenty of other juicy information about Snapchat shared about its business to take the five-year-old company public. The popular mobile app, known for its self-detonating photos and videos , said Thursday it aims to raise $3 billion.
Evan Spiegel, a 26-year-old Stanford University dropout, co-founded the app in 2011. Since then, teens and young people have flocked to it, to document everything from concerts to morning commutes.
CEO Evan Spiegel’s salary will go down to $1 from $500,000 after Snap goes public.
The Los Angeles company has already built up its fair share of lore, as it emerges as one of the tech industry’s newest power players.
