After its share price soared 44 percent on its first trading day, Snap is now valued at $28.3 billion. That is nearly 70 times its total revenue for 2016. Even for a fast-growing tech company that is a lot. Facebook in comparison has a price-to-sales ratio of around 14.
As our chart illustrates, Snap is now valued considerably higher than many American household names. That includes companies such as Kellog’s and Harley-Davidson that have been around for decades and probably will be for decades to come.
Snap's IPO valuation in context
Snap Is More Valuable Than These Household Names
Description
This chart compares Snap's IPO valuation to the market capitalization of selected well-known U.S. companies.
