snap (3)

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While Google and Facebook are the undisputed advertising leaders online, companies are increasingly looking for other digital ways to spend their marketing budgets, according to advertising and public relations company WPP CEO Sir Martin Sorrell.

"What our clients want and what our agencies want is more competition of the space, anything that gives more competition to the duopoly of Facebook and Google," Sorrell said to CNBC.

The two tech giants account for about 75 percent of digital ad budgets, according to Sorrell. But, there are competitors ready to chip away at their dominance, including AOL and Yahoo's ad tech platforms and Snap. Even Amazon is becoming a threat, with its ad platform recently valued at $350 billion, he pointed out.

"Getting more than two solutions is important," he said.

But while Google's issue of ads appearing next to questionable content is causing companies to pull dollars right now, Sorrell doesn't think the moves will be permanent because of how big of

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What to Expect Post-IPO for Snap, Inc.

Over the last few years, we’ve seen a significant downtick in the number of IPOs issued by companies, but will 2017 break that trend? So far this year we have seen five companies go public on a U.S. stock exchange, and today we saw the first tech IPO of the year with Snap, Inc.

Snap, Inc. is technology and social media company known for its mobile app Snapchat, which allows users to share photos and videos with friends for moments to hours before disappearing. Founded in July 2011, what began as a tech start-up garnered 23 active investors and raised around $2.6 billion in venture capital backing.

Now that Snap, Inc. has gone public with an IPO priced at $17 per share, ahead of the expected $14-$16 a share range, it’s trickier to forecast its performance. Looking at some of Snap’s numbers, investment attractiveness it likely to be in the eye of the beholder.

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The company’s year-over-year sales growth as well as its EBIT growth are certainly noteworthy. Snap’s year-over-year sales growt

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ap187914845154-1.jpg?width=400Alphabet's investment arm, Google Capital, has quietly made an investment in Snapchat parent company, Snap Inc. 

The investment was only revealed after Google Capital rebranded itself to CapitalG on Friday and added the Snapchat logo to its portfolio page. Business Insider confirmed that it is a portfolio company of the growth equity arm of Alphabet. Snap Inc did not immediately respond to comment. 

The two companies have had a cozy relationship. In 2013, it was rumored that Google once tried to buy Snapchat for $4 billion after it turned down a Facebook acquisition. To this day, Snapchat remains one of the largest users of Google's cloud infrastructure, although it's recently brought a data center specialist in house

Before it renamed itself to Snap Inc in September, Snapchat had most recently raised $1.81 billion in a May 2016 round of funding. That funding round valued the company around $20 billion. 

Courtesy of BusinessInsider

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