Temasek Holding sells off US$6.76m worth of shares in Snap
Less than a week after investing in struggling SoundCloud to help it stay afloat, Temasek Holdings has made the headlines again, this time for selling off its shares in Snapchat’s parent company, Snap.
Temasek Holdings has sold off its shares in Snapchat’s parent company, Snap.
The Financial Times reported that the Singapore state investment company sold off all its 300,000 shares, valued at US$6.76m. Other investors like Jana Partners and Third Point also sold off their shares.
Snap recently posted poor Q2 2017 results, but remained optimistic that its self-serve platform, which accounted for 60% of ad impression buys, will not only increase spend, but attract new advertisers and drive growth.