Snap Inc seems to be bulking up its executive as it moves towards an IPO. And the latest to join the company Michael Lynton, CEO of Sony Entertainment. As per The Hollywood Reporter, Lynton has stepped down from Sony, only to step up to fill the Chairman’s position at the Snapchat parent.
Snap shares an older connection with Lynton. Not only is he an early investor in the company, but he is also a board member. As such, his appointment is not exactly surprising. This relationship was brought into sharp focus during the Sony Entertainment hack (allegedly by North Korean hackers), when e-mails that brought Lynton’s deep relationship with Snapchat, into relief.
Meanwhile. the investor and board member is now moving into the chairman’s chair, so to speak. The time period from now till the company’s IPO, which is expected to take around 5 months hence is certainly crucial and would have a big impact on the success of its initial public offering. And the IPO is generating a lot of hype, make no mistake.
Expected to value the company at over $20 billion, the IPO is being likened to Facebook’s initial public offering that saw the social network reach new heights. Now, another social-tech company is going to offer its shares to the public. So yeah, there is certainly a lot of anticipation in the air. The hype needs to be handled carefully and with experience as the CEO of Sony Entertainment, Lynton is just the right man for the Chairman’s job.
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