Snapchat Parent Company to Raise $1 Billion in Debt Financing, Citing Potential Acquisitions

Snap, the money-losing parent company of Snapchat, plans to issue $1 billion in debt securities for the purposes of working capital and potential acquisitions. In announcing the plans, Snap said it plans to use the net proceeds from the offering for “general corporate purposes,” which is standard boilerplate. The company also said it may use [...]Chinese digital giant Tencent has entered negotiations with French media conglomerate Vivendi to buy a 10% stake in Universal Music Group.

]One of the more confusing aspects about the already confusing disintegration of PledgeMusic — the direct-to-fan marketplace that ceased operations earlier this year, leaving artists on the hook for a total sum estimated to be between $1 million and $3 million — is the British legal terminology used in the proceedings for the UK-based company: [...]Take Two Interactive investors sent the company’s share price down 5.

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Source: CNBC - 🏆 12. / 72 Read more »