Snapchat executives in New York were peppered with questions on Tuesday about competition from Facebook, user growth for the disappearing-message app, and accessibility in less developed markets as they pitched prospective investors on the company’s shares.
Snap Inc., Snapchat’s parent company, is looking to raise as much as $3.2 billion in a much-anticipated initial public offering. The executives are traveling from London to San Francisco as they try to drum up interest in the sale.
Tuesday’s meeting, on the 36th floor of the Mandarin Oriental hotel in New York City’s Columbus Circle, drew a standing-room-only crowd of nearly 500 people that one investor said included “the entire hedge fund mafia.”
