Valiant Capital’s Performance, Holdings, and India Investments

7. Snap Inc (NYSE:SNAP)

In Snap Inc (NYSE:SNAP), Christopher Hansen’s fund reduced its position by 58% during the second quarter and currently holds 671,100 shares valued at $11.93 million. One of the top shareholders of Snap Inc (NYSE:SNAP) is Coatue Management, which added 940,900 shares to its stake during the second quarter and amassed 21.90 million shares at the end of June.

Owner and operator of Snapchat, Snap Inc (NYSE:SNAP) went public in March in a very hyped IPO. However, since the stock went public it lost nearly 50%, as the company missed both top- and bottom-line estimates in both financial reports disclosed since the IPO. Investors were also disappointed to see weak user growth numbers, with second-quarter Daily Active Users amounting to 173 million, up by 7.0 million sequentially, but lower than than the expected 175.20 million. The company managed to grow its Average Revenue per User (ARPU) to $1.05 from $0.50 a year earlier, but its still significantly behind its peer Facebook Inc (NASDAQ:FB), which has an ARPU of $4.57. Nevertheless, the company posted some growth, even though it was lower than expected and the drop in shares could be attributed to an overreaction following a lot of hype surrounding the company after the IPO. In this way, Snap Inc (NYSE:SNAP) might be a good investment for long-term investors.

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