Tuesday, February 21, 2017

Snap IPO Attracts Interest Of Non-Tech Wealth Managers, Service Providers

The upcoming IPO of Venice-based Snap, the parent company of Snapchat, is spurring a lot of local real estate agents, money managers, and luxury goods retailers excited to get a piece of the action, according to an article in the New York Times. Although Los Angeles has long had a healthy technology industry -- and a very long list of established service providers who support the industry -- the high visibility of Snap's IPO has apparently been attracting providers more familiar with Hollywood movie stars and professional athletes, eager to try to find tech clients. The similar interest by non-technology service providers, not familiar with the industry but eager for the business promised by newly minted millionaires, has not been seen in LA since the go-go days of the Dot-Com boom in the late 90's.