Investor urges Snap to raise outside capital for Specs
Blue Duck Capital told Snap's board on Tuesday that selling 20% of Specs to venture investors or a strategic partner such as SpaceX would raise $1B without diluting shareholders, two weeks before the glasses go on sale in the United States, Britain and France
Via TNW | Business
Blue Duck Capital Partners has written to Snap’s board urging it to sell about a fifth of its Specs subsidiary at a $5B valuation, raising $1B to fund roughly two years of spending without diluting Snap shareholders. It is the second fund to press Snap over Specs, and the glasses ship this autumn into three markets, one of which is France.
A hedge fund wants Snap to sell a fifth of its augmented reality glasses business to outside investors at…
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