Snapchat Files for IPO

Snapchat

Snap Inc., the parent company for Snapchat, has filed for an IPO:

Snap today filed its S-1 paperwork with the Securities and Exchange Commission (SEC), triggering the process to go public. The company aims to raise $3 billion in the initial public offering (IPO) and will subsequently trade on the New York Stock Exchange under the symbol SNAP.

The filing also discloses that Snapchat paid $158 million to their ousted co-founder Reggie Brown:

As part of the settlement, Snap said it agreed to pay Brown a total of $157.5 million in cash, $50 million of which was paid in 2014 and $107.5 million of which was paid in 2016. The settlement ended up being much less than the $500 million Brown originally asked for.

Snapchat has been arguably the most interesting new startup in years, now the question is: will it be the next Facebook and dominate or the next Twitter and struggle to find its footing?

Tom DeLonge to Direct New Sci-Fi Feature ‘Strange Times’

Tom DeLonge

The Hollywood Reporter has the news that Tom DeLonge will be directing the upcoming sci-fi- feature Strange Times:

The Blink-182 founder is set to direct a sci-fi feature that centers on a rebellious group of San Diego skateboarders, who take it upon themselves to investigate extreme paranormal activity around town, only to embark on an adventure that they could have never imagined.

And:

DeLonge’s band, Angels & Airwaves, will record new, original music for the film, which is slated to begin production in the fall.

Spotify May Delay IPO

TechCrunch is reporting that Spotify may delay it’s IPO until 2018:

TechCrunch has heard from multiple sources that the company is now weighing a plan to delay an IPO until 2018. The delay would give Spotify more time to build up a better balance sheet and work on shifting its business model to improve its margins, one source said.

Pitchfork Launches Beer-Focused Website

Pitchfork

Pitchfork have launched a new digital publication focused on beer. It’s called October:

A destination for devotees and novices alike to read about, learn about, and share their appreciation for beer and celebrate the culture around it. The site is being launched in partnership with ZX Ventures, AB InBev’s incubator and venture capital fund that focuses on increasing awareness and excitement around beer and brewing culture.

The web design is infuriating, but the writing seems to be of Pitchfork’s well-known style:

October aims to capture the spirit, ambition, and wort-soaked labor of the gambrinus pursuit — the making and drinking of the good life. Through essays, travels, events, and an objective look at what makes beer so damn good, our hope is that you’ll find resonance here, something of unusual quaffability, as part of the drinking class.

Bandcamp to Donate Profits on Friday to ACLU

Bandcamp

Bandcamp have announced that for any purchase made on the service this Friday, the service will donate 100% of their share to the ACLU:

It is an unequivocal moral wrong, a cynical attempt to sow division among the American people, and is in direct opposition to the principles of a country where the tenet of religious freedom is written directly into the Constitution. This is not who we are, and it is not what we believe in. We at Bandcamp oppose the ban wholeheartedly, and extend our support to those whose lives have been upended.

And so on Friday, for any purchase you make on Bandcamp, we will be donating 100% of our share of the proceeds to the American Civil Liberties Union, who are working tirelessly to combat these discriminatory and unconstitutional actions.

Don’t forget you can also donate directly to the ACLU. I’ve got a repeating monthly donation scheduled.