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Snap Is Raising $1 Billion in Debt

TheMotleyFool

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Snap (NYSE: SNAP) has historically had a problem with cash burn, as the company's operating cash flows have consistently been negative since going public in 2017. For example, the Snapchat operator ended the second quarter with $1.2 billion, about $2 billion lighter than the $3.2 billion it had following its IPO, in which it raised $2.4 billion. Snap is putting together a turnaround, recently posting its best user growth in three years and reducing its cash burn rate.

The company has now announced that it is raising another $1 billion.

Image source: Snap.

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