Investor urges Snap to raise outside capital for Specs

Investor urges Snap to raise outside capital for Specs

Blue Duck Capital Partners has written to Snap’s board urging it to sell about a fifth of its Specs subsidiary at a $5B valuation, raising $1B to fund roughly two years of spending without diluting Snap shareholders. It is the second fund to press Snap over Specs, and the glasses ship this autumn into three […] This story continues at The Next Web

Blue Duck urges Snap to raise outside capital for Specs unit

Hedge fund Blue Duck Capital Partners is calling on Snap to raise external capital for its augmented reality glasses business, arguing that separating funding for the Specs unit could unlock value for shareholders without further diluting the social media company's equity, according to a report by Bloomberg.Blue Duck Chief Investment Officer Alex Beinfield said Snap is “profoundly” undervalued and that bringing in outside investors for Specs cou…