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Big windfalls for 2 venture backers from Snap IPO

Some investors believe Snap's IPO valuation could be as much as US$25 billion; Lightspeed owns 86.6 million shares of the company while Benchmark owns more Snap shares than any other venture firm: 131.6 million.

San Francisco

SNAP Inc's initial public offering (IPO) looks set to deliver windfalls to a long list of venture backers of the company behind the Snapchat social media app. But two will benefit more than most: Early investors Benchmark and Lightspeed Venture Partners.

Jeremy Liew,...

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