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Factbox - Snap IPO: The asymmetry of venture returns

By Angela Moon

By Angela Moon

NEW YORK (Reuters) - Shares of Snap Inc , the owner of the messaging app Snapchat, closed at $24.48 per share on the New York Stock Exchange on Thursday versus the initial public offering price of $17.

Following is a list of venture capital firms selling their shares in Snap. Estimated values of shares sold in the deal are based on the IPO price. Estimated values of shares retained are based on the stock's opening price. Data based on SEC filings, EquityZen and CrunchBase.

* Lightspeed Venture Partners

Total shares: 86,629,520

Shares sold: 4,632,890

Shares sold value: $78,759,130

Shares retained: 81,996,630

Shares retained value: $2,007,277,502

Initial purchase prices:

- Seed round: Less than $0.01 per share in 2012

- Series A: $0.10 per share in 2013

- Series B: $0.98 per share in 2013

Investment: At least $485,000

Voting right: Yes

* Benchmark Capital Partners, Mitchell Lasky

Total shares: 131,599,440

Shares sold: 10,695,868

Shares sold value: $181,829,756

Shares retained: 120,903,572

Shares retained value: $2,959,719,442

Initial purchase prices:

- Series A: $0.10 per share in 2013

- Series B: $0.98 per share in 2013

Investment: At least $23,943,414

Voting right: Yes

* General Catalyst

Total shares: 10,712,640

Shares sold: 572,904

Shares sold value: $9,739,368

Shares retained: 10,139,736

Shares retained value: $248,220,737

Initial purchase price:

- Series B: $0.98 per share in 2013

Investment: About $10.5 million

Voting right: No

Following is a history of Snap's private investment rounds. Data is based on SEC filings, EquityZen and CrunchBase. Preferred stock share prices are adjusted to reflect the Class A dividend issued in October 2016 (effectively a 2-for-1 split of the shares).

For example, Series A preferred stock investors paid $0.208515 per share for Series A stock. Adjusting for the Class A dividend, the price is reflected below as $0.1043.

* Series A-1 (Seed round), May 2012

Investor: LightSpeed Venture Partners

Price per share: $0.01

Number of shares: 71.45 million

Total investment: $485,000 - $518,000

Value at IPO price: $1.2 billion

* Series A, Feb 2013

Lead investor: Benchmark Capital

Participants: Lightspeed Venture Partners, SV Angel

Price per share: $0.10

Number of shares: 140.58 million

Total investment: $14.7 million

Value at IPO price: $2.4 billion

* Series B, June 2013

Lead investor: Institutional Venture Partners

Participants: General Catalyst, Lightspeed Venture Partners,

SV Angel, Tencent Holdings, Benchmark Capital

Price per share: $0.98

Number of shares: 81.86 million

Total investment: $80 million

Value at IPO price: $1.4 billion

* Series C, Dec 2013

Lead investor: Coatue Management

Price per share: $1.70

Number of shares: 32 million

Total investment: $54.5 million

Value at IPO price: $544.0 million

* Series D, Dec 2014

Lead investor: Kleiner Perkins Caufield & Byers

Participants: HDS Capital, Yahoo

Price per share: $7.68

Number of shares: 6.74 milllion

Total investment: $51.7 million

Value at IPO price: $114.5 million

* Series E, March 2015

Lead investor: Alibaba, Kleiner Perkins Caufield & Byers

Price per share: $10.86

Number of shares: 39.96 million

Total investment: $433.9 million

Value at IPO price: $679.4 million

* Series F, July 2015 - May 2016

Lead investor: Fidelity Investments

Participants: Coatue Management, General Atlantic

Geodesic Capital, Glade Brook Capital Partners, GSV Capital

GSV Ventures, Institutional Venture Partners,

Lone Pine Capital, Meritech Capital Partners,

Sequoia Capital, T. Rowe Price, York Capital Management

Price per share: $15.36

Number of shares: 121 million

Total investment: $1.9 billion

Value at IPO price of $17: $2.1 billion

(Reporting by Angela Moon; Editing by Dan Burns and Meredith Mazzilli)