How Snapchat and Facebook’s billionaires are changing rules to keep power forever

[Guest Chris Mills]

As part of the papers filed for its IPO yesterday, Snpachat's parent company Snap revealed the ownership and power structure that the company will use moving forwards. Snap CEO Evan Spiegel and CTO Robert Murphy will have the majority of the company's voting shares, while regular investors will have no voting rights at all.

 

The move is described as "highly unusual," which it is for a regular company. But for a Silicon Valley behemoth run by evangelical founders who want to change the world, it's becoming increasingly common.

 

Continue reading...

 

Trending right now:

 

1. Apple is destroying Samsung where it really matters
   
2. 10 best new movies and shows coming to Netflix in February
   
3. 5 exciting new Galaxy S8 features you won’t find on Apple’s iPhone 8
   

 

Via BRG - Boy Genius Report