Filings reveal Temasek among high-profile investors in Snapchat parent

Temasek held 300,000 shares, which would account for 0.04 per cent of Snap's 682.1 million shares outstanding as of April 30, according to Bloomberg data.
Temasek held 300,000 shares, which would account for 0.04 per cent of Snap's 682.1 million shares outstanding as of April 30, according to Bloomberg data.PHOTO: REUTERS

NEW YORK (BLOOMBERG) - Singapore state investment firm Temasek Holdings was among institutional investors detailing stakes in Snap, the parent of messaging app Snapchat, in filings with the US Securities and Exchange Commission on Monday (May 15).

Some positions were started before Snap went public in early March, in the biggest initial public offering for a US tech company since Facebook's 2012 debut. Fidelity Management & Research and hedge fund Coatue Management reportedly participated in Snap's pre-IPO funding rounds.

Snap shares jumped 8.4 per cent to US$20.74 on Monday on the diclosures, adding to gains Friday that have retraced about two-thirds of Thursday's earnings-related correction.

Fidelity disclosed a 33.2 million-share stake, making it Snap's fifth-largest holder as of March 31, according to Bloomberg data. T Rowe Price held 28.3 million shares, making it the sixth-largest holder as of latest filings, while Coatue disclosed a 21 million-share stake, making it the seventh-largest holder.

Temasek held 300,000 shares, which would account for 0.04 per cent of Snap's 682.1 million shares outstanding as of April 30, according to Bloomberg data.

Snap shares plunged on May 10 after it posted a US$2.2 billion loss on softer-than-forecast revenue in its first quarterly report as a public company. Analysts gave kudos to archrival Facebook for stifling Snap's growth, while CEO Evan Spiegel scoffed at the competitive threat on the conference call.