Snapchat’s IPO Reveals “Unique” Company Culture, Houses As Office, Future Plans

On Thursday, Snap Inc, who owns the massively popular messaging app Snapchat, filed to go public. Marketwatch said the company is aiming to raise USD3 billion, and stockholders who will invest in Snap Inc will not have voting rights.

But there were a lot of things revealed in the public filing. Business Insider notes that the culture at Snapchat has a “touchy-feely” internal culture that is reportedly based on “kindness.” Aside from having a program that can financially support “team members who are facing adverse or unusual circumstances,” the company also lists having group therapy sessions for its staff, and a charity arm that would fund arts, education, and youth campaigns.

The IPO filing also revealed that Snapchat hosts offices in different houses as opposed to a central office building or complex.

The company explained why the unusual setup, "This diffuse structure may prevent us from fostering positive employee morale and encouraging social interaction among our employees and different business units. Moreover, because our office buildings are dispersed throughout the area, we may be unable to adequately oversee employees and business functions. If we cannot compensate for these and other issues caused by this geographically dispersed office structure, we may lose employees, which could seriously harm our business."

As for future plans, Snapchat seems to be focused on continuing “innovative and different camera products,” despite not earning on its first one. The company said Spectacles, a USD130 pair of smart sunglasses with a video camera, has yet to earn “significant revenue.” CNET said Spectacle’s rollout was limited so far,

"This means that we are willing to take risks in an attempt to create innovative and different camera products that are better able to reflect and improve our life experiences,” the company wrote in the filing.