A company going public means a lotta people get rich. Today that means the CEOs9 Moons executives and 🍆🍆🍆early investors in Snap Inc., the company once better known for its association with dick pics than its decision to be a "camera company."
SEE ALSO: Evan Spiegel has already made $1.5 billion off Snapchat's IPOBut not everyone was convinced in the power of dick pics. Chris Sacca, outspoken Silicon Valley venture capitalist, has invested early in other successful tech business like Instagram, Kickstarter, Twitter and Uber, but he didn't buy into Snapchat — even when they came knocking.
On Thursday, shortly before Snap's first day on the market ended, Sacca shared, on Twitter, an email he had received from Snapchat cofounder and CTO Bobby Murphy from Nov. 2, 2012.
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Sacca did end up meeting the team behind Snapchat early on, but passed on investing: “I was like, ‘The dick pics?’” he told CNNMoneylast year. “That probably cost me like a billion dollars.”
He wasn't the only one.
SEE ALSO: Snapchat haters and lovers: a historyAshton Kutcher, who has invested in other tech giants like Airbnb, passed on investing—twice. He cited the design: “I looked at Snapchat’s product and I hated the product,” Kutcher told Recodelast year. “I just thought it was like, a little crickety and a little rickety. It just wasn’t beautiful or elegant."
Sacca did invest early in Twitter, which while continuing to gain fame (thanks Trump), had its stock drop from a high of over $70 to now trade below $20.
He also invested in Uber. That was once viewed as the next big tech giant to go public. Yet, they're currently dealing with much bigger issues.
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Topics Snapchat
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