The Morning Badger (3/2/17): Snapchat’s First Day On the Stock Market


Snapchat

A Good Day for Snapchat

Snapchat filed their IPO this morning, going from a private company to a public one. Later today, you’ll be able to actually buy shares of Snapchat and hold a minority stake in the company. We answered all of your questions on the subject, including whether or not you should invest in them, how they plan to expand their business, and what to look for if you want to invest today.

A Bad Day for Yahoo

Ronald S. Bell, Yahoo’s top lawyer, resigned from the company yesterday after Yahoo repeatedly lost customer data to hackers. This comes at a bad time, as the company currently faces 43 class-action lawsuits related to these hacks. At the same time, Marissa Mayer (Yahoo’s CEO) will not get her yearly bonus due to the company’s many security breaches. She wrote on her personal Tumblr (a site owned by Yahoo) that she wishes for her bonus to be redistributed amongst the company’s employees.

An Even Worse Day for Wells Fargo Executives

Wells Fargo’s top executives are also not getting their bonuses and equity allotment this year. While the bank wasn’t hacked, they did recently come under fire for scamming customers and opening duplicate accounts under less-than-scrupulous circumstances. The CEO, CFO, General Counsel, and other C-level officers will forego a total of $32 million in bonuses.