After an exhausting evening of drinking, everything in an intoxicated person’s mind looks like a bed — the gutter, a park bench, the floor, etc. A couple weekends ago, the hood of a car in a parking lot became this Patagonia-wearing Bro’s bed. When the car’s owner came out, he decided to have some fun at his expense on Snapchat, trolling the bejesus out of him for passing out on his car.

The commentary is gold and the guy looks like Bruno Mars. And let’s be real — a little harmless trolling from a stranger is better than ending up in the drunk tank.

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In a couple weeks, Snapchat will IPO and be the next great media-tech unicorn in the financial world. The two ex-fratstar co-founders of $SNAP, Evan Spiegel and Bobby Murphy, will become *actual* billionaires with their equity in the public markets and not just on paper. According to paperwork filed this week, the company is IPOing at a share price between $14 – $16, with a total company valuation between $19.5 – $22 billion.

So how much cheddar is Evan raking in for his company? A LOT, especially when you consider a $750 MILLION bonus for bringing the company public. Here’s a breakdown from Recode:

Assuming a $16 share price — and this could change quickly once the company hits the open markets — here’s the projected value of stakes held by key executives and investors.

• Evan Spiegel, CEO and co-founder — $4.22 billion (this includes a bonus Spiegel is set to receive, paid out over the next three years
• Bobby Murphy, CTO and co-founder — $3.63 billion
• Benchmark — $2.11 billion
• Lightspeed Venture Partners — $1.37 billion
• Tim Sehn, VP of Engineering — $108 million
• Imran Khan, Chief Strategy Officer — $45 million

Speaking of Snapchat, this morning I went down to the New York Stock exchange to talk about the time Evan Spiegel pitched BroBible about the app during his Stanford fraternity days.

Here’s the e-mail we received back in the day pitching Snapchat when it was still Picaboo, along with said picture of the fratstars behind Snapchat:

Here’s a WILD roommate-from-hell story from Gainesville, Florida (…of course, FLORIDA!). According to the Gainesville Sun, 24-year-old Katherine Jean Tonner is in the Alachua County jail for allegedly murdering her ex-boyfriend in her home. The body was discovered by a roommate in the living situation:

Tonner called 911 at 12:38 p.m. and reportedly told the call taker that she was at her parents’ home, was suicidal and had shot a man who had been badgering her for money. She reportedly told police he was dead.

Ortiz’s body was found by one of Tonner’s roommates. A police report said Ortiz had been living in the apartment despite the split.

The roommate told police he was in his third-floor room when he heard “three loud bangs” below him on the second floor. About five minutes later, he heard a fire alarm and went to investigate, the arrest report said.

He didn’t see anyone in Tonner’s room, but smelled a burning odor and saw her car driving away. He then checked again and saw Ortiz face down on the floor near Tonner’s bed.

Meanwhile, another male roommate started an active live-tweet of the ensuing police investigation. The folks at Elite Daily captured the tweets, with Twitter user @chaserojo giving Elite Daily the following statement: “I’m bad at reacting to serious situations so I thought I could just go to Twitter” and adding “they were dating ever since I moved in in August. IDK how long before that but apparently they broke up a week or two prior to this.”

The tweets are WILD:

Beautiful Bella Thorne is on a cruise in the Caribbean. Sounds nice.

Via Reddit

The lovely Bella put on twerking display in paradise with her friends which you can see here.

The gorgeous actress also puts on a seductive striptease.

Here’s a glorious gyrating show.

The mesmerizing Miss Thorne is seen here tying her bikini bottoms so they don’t fall off because that would be a tragedy.

Via Re

She shared this topless photo with some dastardly placed emojis.

I suddenly loathe hearts and aliens.

Earlier this week, supermodel Kate Upton made her triumphant return to the cover of the Sports Illustrated Swimsuit edition with these amazing topless pics.

Upton posted several Snapchat videos last night celebrating her amazing achievement including this video that shows her crawling on the floor and accidentally exposing her “nude” panties.

And in GIF form.

Love you, Kate.

Scroll down for more hot pictures of Kate Upton

Next month Snapchat will IPO and the founders of the company will be gazillionaires. In order to continue #crushingit in the high stakes tech/media business game, Snap Inc will have to build revenue channels beyond vertical video pre-roll between stories and custom filters. Hence the company’s push into hardware with Spectacles, the sunglasses that let you snap your POV.

Previously they were only available at strategic vending machines all around the country. But now they’ve opened the door to ordering online at Spectacles.com, so look for everyone and their brother to have a pair by the time music festival season rolls around.

$129.99 for the sexting game changer ever created. Seems like a small price to pay.

dennizn / Shutterstock.com

Much like the guy we told you about earlier today who cockblocked himself in horrifying fashion thanks to a tremendous texting fail, Snapchat can also be a minefield if you aren’t paying enough close enough attention.

It all started out well. So well in fact that after his first date with a woman she wanted to add him to Snapchat. And that simple request is where the story this poor chap told on Reddit takes a horrible turn for the worse.

Last year, after meeting a girl and becoming intimate with her (woohoo), I asked her if she had snapchat. She said she’d add me, and sure enough, I receive a contact request that evening after we had parted ways. I proceed to talk to her, despite her sending snaps that do not include her face – something that bears no real significance to me at the time, but is essential to the fuck up.

Details, guys, have to pay attention to the details.

Things quickly heat up, and I am asked to send the nudes. I willingly oblige, and give her a full photoshoot of my naked body in all its ‘glory’. After all is done, and a week or so has passed, I receive another contact request.

It is the girl that I was intimate with, and had meant to add in the first place.

Uh, didn’t he already add her and had been chatting with her on Snapchat? That’s what he thought as well until he figured it out.

Alarm bells ringing, I decide to simply laugh off accidentally sending these saucy photographs to the stranger who had decided to add me on that particular day, of all days… Until I was in a shop some weeks later, and someone approached me and asked if I was “the dick kid”.

Hang on, it gets even worse.

Through conversation, I am informed that the stranger to whom I sent these images was in their sixth form (I live in the UK), and had shown EVERYONE that they could these photographs. Some few hundred people saw my Captain Corrigan, and yes, I still get approached for my famous wang.

Remember those details I mentioned, bros? As you can see, they could be the difference between sending nudes to your girl versus hundreds of strangers and being forever known as “the dick kid”.

ThomasDeco / Shutterstock.com

Snapchat is here to stay. It’s consistently ranked amongst the ‘favorite apps’ of millennials, and it is a powerful marketing tool for brands that know how to use it well. This Snapchat 2017 course bundle will teach you everything you need to know in order to elevate your brand on Snapchat, and the bundle’s 94% off.

Snapchat is fast becoming a major player in the digital marketing landscape. Brands are leveraging the platform in creative ways to reach new audiences and engage them in creative ways. In this course, you’ll learn the skills to grow a Snapchat account to elevate your brand or business in a smart, modern way. Buy Now: $12

— Access 32 lectures & 1 hour of content 24/7
— Install the Snapchat app & sign up
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— Learn from other Snapchat brands & influencers
— Integrate Snapchat w/ your website & social media

Buy It Now: $12

 
The BroBible team writes about gear that we think you want. Occasionally, we write about items that are a part of one of our affiliate partnerships and we may get a percentage of the revenue from sales.

AlesiaKan / Shutterstock.com

Sooo…how much money did you make as a teenager? Did you have a paper route? Maybe you had a job someplace like McDonald’s or Wendy’s? Or did you just depend on your parents for an allowance?

Now then, how much money do you now make as an adult? Are you happy with your income? Are you killing yourself to make ends meet?

If so, you’re really going to hate this story.

That’s because there is a better than average chance that there are teens out there, even as young as 13, making significantly more money than you do. And the kicker is, they’re doing it by using Snapchat, of all things.

Reports the Post…

Using Snapchat-focused product Fanbytes, popular users of the platform are getting connected with brands like Universal and Charlotte Tilbury to collaborate on advertising videos targeting people under the age of 21.

Co-founder Timothy Armoo said the service has worked on over 300 campaigns with its 1,000 influencers who attract between 10,000 and one million views per Snap.

“Last month, our highest earner was a 17-year-old kid who got $7,000 through delivering ads in our network,” he told Adweek. “The average person is making around $2,000 a month.”

Each influencer is given a “Fanbytes Score,” which helps determine how much cash they will receive from the advertising — those with up to 25,000 followers can expect to earn around $1,500 per month, while those with 150,000 plus receive upwards of $6,500.

Ummm… the average person is making around $2,000 a month? What does a teen do with that much money? Better yet, what does a teen do with $7,000 a month?!

Many of the people who have succeeded using Snapchat already had a following…on YouTube.

One such example of that is 20-year-old Drew Gilchrist, AKA @DrewIsSharing. Yeah, this guy…

According to the Post, his “content is largely focused on weed, with his controversial videos offering advice on things like how to get drugs and roll joints.”

Amazing.

Welp, I guess there’s really only one thing I can say about all of this…

H/T FHM

Official Product Description: Made of 100% beef, but never starts it!

Well, lil’ dancing hot dog homie on Snapchat has come to life this Halloween. You know said hotdog as one of Snapchat’s first AR filters and as a Bitmoji character.

More specifically, you know this hotdog from your friends Snaps – probably videos of my frankfurter friend getting run over by a train, dancing on a wall, or some other immortal activities.

Seriously though, this is an amazing costume choice for Halloween 2017.

If you’re looking for a comical 2017 cultural reference and crowd-pleasing costume: this is it.

Everyone loves hot dogs. Everyone loves Halloween. Everyone uses Snapchat.

It’s an easy two piece costume, you’re still able to use your hands, and the top head cover is easy on/off for a quick group picture then back to enjoying your beverage.

If you still need a costume for this Halloween (be honest, you haven’t thought about it and just realized it’s less than two weeks away), I promise you this will be a huge hit at any party.

BUY IT NOW!

—

The BroBible team writes about gear that we think you want. Occasionally, we write about items that are a part of one of our affiliate partnerships and we will get a percentage of the revenue from sales.

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Chrissy Teigen, as we well know, is something of an expert when it comes to utilizing social media.

However, even someone as dialed in as Teigen is can still commit the occasional faux pas.

Such was the case on Wednesday when as she was sharing what her spray tan process involves she accidentally set one of her nipples free on camera.

Naturally, this minor wardrobe malfunction did not go unnoticed by her fans.

Of course, Chrissy being Chrissy, her response to the fervor she created on social media was spot-on and hilarious…

Teigen then followed up with a very heartfelt apology video…

Nailed it.

Also, you have to love that Teigen shared how she found out about the stray nipple from her assistant…

Same.

ThomasDeco / Shutterstock.com

Starting this week, ESPN is rolling out a new SportsCenter show that’s being made exclusively for Snapchat. It will air at 5am and 5pm (EST), and while it’s possible there will be a carousel of regular rotating hosts, today’s premiere will be hosted by Katie Nolan.

ESPN announced this move today on their MediaZone blog:

SportsCenter on Snapchat will be hosted by a dynamic roster of ESPN talent, each with his or her own unique point of view, providing diverse perspectives and personality to every show. Today’s first show will be hosted by Emmy-winning sports personality Katie Nolan, who recently joined ESPN. Other hosts for SportsCenter on Snapchat include Elle Duncan, Cassidy Hubbarth, Jason Fitz and Cy Amundson.
“SportsCenter on Snapchat provides a creative new format and platform for our flagship franchise to continue to evolve,” said Connor Schell, ESPN executive vice president, content. “Katie, Elle, Cassidy, Jason and Cy collectively bring a new style, energy and substance that I believe will connect with Snapchat’s audience in a real way. I’m thrilled to bring this level of talent and personality to a new and innovative daily touchpoint for ESPN.” (via)

I’ll be honest, I think this is a great move for ESPN and it’ll be great to see Katie Nolan getting more coverage. I used to share a desk with Katie Nolan when we worked together on Guyism years ago, and it’s been wild to see her career explode over the past few years. I just hope that this doesn’t mean ESPN will be keeping her tucked away on Snapchat and not on TV.

ESPN has been an exclusive content provider on Snapchat for over two years now, but it’s interesting to see ESPN devote additional resources to Snapchat when the social media platform is slowly being made obsolete by Instagram’s stories. I think this is a great deal for Snapchat, getting exclusive SportsCenter content with Katie Nolan, but I think ESPN might be sleeping on Instagram here.

You can click here to visit ESPN’s Media Zone to see the full press release.

Editor’s Note: Welcome to a daily column we run here at BroBible breaking down the day’s biggest stories in sports finance with commentary from the equities analyst and sports fanatic perspectives. It comes to us via our friends at JohnWallStreet, publisher of a free e-mail newsletter focused on sports related public equities and their subsidiaries. You can sign up here.

Trey Wingo Opines on NFL Headlines

ESPN’s long-running morning drive radio show Mike & Mike, is coming to an end; with the last show scheduled for Friday. Beginning Monday November 27^th, Mike Golic will be joined in studio by new co-host Trey Wingo. Golic & Wingo will air weekdays from 6-10a EST, with simulcast on ESPN2 (moving to ESPNU in January). JohnWallStreet had the opportunity to catch up with the guys to discuss finance, the NFL and their new show. In part 2 of a 3-part series, Trey discuss his thoughts on some recent NFL finance-related headlines.

JWS: Reports have indicated that the Tennesse Titans are having difficulty selling a 33% share of their franchise at $2.05 billion valuation. Is it possible “there are no buyers” (as stated in the report)?

Trey: Buffalo has the longest playoff drought in the league (17 years) and they sold for $1.1 billion dollars, so you can’t tell me there isn’t interest in buying a team. The question is what are you selling?  If you are going to put that kind of money in and have no say, I can understand why there wouldn’t be a lot of interest there.

JWS: Mark Cuban predicts that NBA broadcast rights will continue to skyrocket, do you foresee similar growth with future NFL media rights?

Trey: The NFL’s (media rights) will skyrocket too and I’ll tell you why, they still have not sold one of their biggest bargaining chips; streaming rights. Those will be available to somebody in the next round. The NFL is keeping television alive. Thursday night football exists because people will pay a significant amount of money to put it on television. If somebody were to walk away from that contract, 3 other networks would happily pick up that package. They may not make as much money as they would have 10 years ago, they’ll still make money on it; hand over fist.

JWS: Several leagues have started to broadcast games in virtual reality. Is it a gimmick or the future?

Trey: The best way to watch a sporting event is still in front of a big TV, with other people around (Golic chimed in “with some beverages”). It’s a communal event. The 3D thing isn’t going to work because you put on those glasses and suddenly you aren’t having the interaction. If you can find a way to do 3D without the glasses, money; until that happens, VR takes away from the communal spirit of watching the game.

Does ESPN need the NFL?

Trey: That’s a question for people above my pay grade. People will tell you though, that the most significant day in ESPN history was in 1986 when they got Sunday night rights.

Howie Long-Short: “There are no buyers” for Susie Adams Smith’s stake in the Titans franchise, because they’re asking for more than $665 million for minority interest with no path to control.  Complicating matters, the buyer must also be willing to purchase the other assets within the KSA Industries conglomerate (which Smith owns); oil & energy businesses, a ranch and auto dealerships. The article insinuates that the 33% stake could be sold for less than the $2.05 billion Forbes valuation. No chance. There isn’t a single scenario in which an NFL franchise sells for at less than a $2 billion valuation. The Nets just sold for $2.3 billion, without the building!

Fan Marino: Did you know that the NFLPA has a startup accelerator? One Team Collective, which launched last December, invests in data analytics, wearables, consumer products and content that improve the lives of professional athletes, their fans and athletes everywhere. The company has invested in 2 start-ups to date; WHOOP (fitness wearing trackable) and StatMuse (Siri-like app with player voices).

Short-Form SportsCenter Now on Snapchat

ESPN (DIS) launched a new short-form version of its flagship show SportsCenter on Snapchat (SNAP) Monday evening. The 3-5 minute show has been “re-imagined” for a younger, mobile demographic and the new platform; though it will still be comprised of sports news, highlights and commentary. SportsCenter on Snapchat will air weekdays at 5a and 5p (just 5a on weekends) on Snapchat Discover. While terms of the deal were not disclosed, the companies will share the revenue generated.

Howie Long-Short: This partnership looks to be mutually beneficial. 47% of teenagers list Snapchat as their favorite social media platform, so ESPN was wise to bring their flagship show to where their future audience is hanging out. SNAP has been actively working to expand its sports programming and while it has deals in place with the NFL, F1, Turner Sports and the NBC for the Olympics; it never had a daily sports show. Unfortunately, SNAP’s Q3 ’17 earnings report wasn’t as promising. The company reported a quarterly net loss of $443 million and grew its user base QOQ just 2.9% (4.5 million new users), its lowest ever growth rate.

Fan Marino: At 35 years old, I’ve never downloaded the Snapchat application; but this partnership may change that. Short-form SportsCenter has me intrigued. The hosts named thus far are Katie Nolan, Elle Duncan, Cassidy Hubbarth, Jason Fitz and Cy Amundson. While Nolan is a household name, the other 4 are relatively unknown entities. With upcoming layoffs expected to hit the SC franchise hard, I’m not surprised to see the names of anchors that likely command lower salaries (Nolan being the exception).

Note: The summary for this story was co-written by our friends at The Water Coolest. Check out TheWaterCoolest.com for the latest market news and professional advice.

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Rapid Consolidation Within the Ski Industry

Vail Resorts (MTN) and Aspen Skiing Co. have led an industry wide consolidation that has dawned an era of multi-resort seasonal passes; providing skiers discounts on lift tickets, a hedge against warm winters and incentives to visit different mountains. Within the last 12 months, Vail Resorts bought Vermont’s Stowe mountain and acquired Whistler-Blackcomb Holdings for a record $1.3 billion; while Aspen Skiing Co. (in partnership with KSL Capital Partners) bought 6 resorts from Intrawest Resort Holdings for $1.5 billion and 4 additional properties from Mammoth Resorts. Independent mountains, feeling the pressure to remain competitive, are also banding together to provide comparable offerings.

Howie Long-Short: MTN and Aspen Skiing have used acquisitions to take market share within the ski industry. There isn’t much of an alternative. No new ski resorts have been built in North America in nearly 40 years as environmental regulations and enormous infrastructure costs prevent new destinations from being developed. As of September 24^th, MTN North American 2017-2018 pass sales were up 17% YOY. The company will next report earnings in December.

Fan Marino: Vail Resort Inc.’s top of the line multi-mountain seasonal pass includes unlimited access to all 15 MTN owned resorts plus bonus days at 30 partner resorts in Europe. The RFID-enabled Epic Pass costs $899. Looking to get in some runs before Thanksgiving? Vail Mountain will open as scheduled on Friday November 17^th. Breckenridge and Keystone, 2 other MTN resorts opened last Friday.

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What is JohnWallStreet?

JohnWallStreet is not a person or location, but a destination for the educated sports fan.

While we won’t be publishing “hot takes” on LeBron’s relative greatness to Jordan, we will be offering up the most relevant sports related finance news, in easily digestible bites, with commentary from both the equities analyst and sports fanatic perspectives.

We’ll cover publicly traded professional teams & stadiums, television networks, apparel & footwear companies, equipment companies, ticketing companies, content and facilities providers. If it trades on Wall Street, and has a sports angle, it’s in our wheel house.

Howie Long-Short and Fan Marino will be providing their expert opinions on each story. They have slightly different areas of expertise. Fan Marino is a firm believer that the SEC is the premier football conference. Howie Long-Short knows it as the Securities & Exchange Commission. Fan Marino lives and dies with the college selection of 5 star, blue chip recruits. Howie Long-Short spends his days analyzing blue chip stocks. Howie Long-Short knows that Black Monday occurred on October 19th, 1987. Fan Marino swears it happens every January after Week 17. You get the point.

ThomasDeco / Shutterstock.com

Snapchat is developing a new “Stories Everywhere” feature where content could be shared outside of the app, according to live-streaming financial news network Cheddar. Stories Everywhere would be similar to Twitter embeds, allowing Snapchat content to be easily shared outside of the app such as including the content on websites. Cheddar reported that Snapchat could share content on other platforms through a web player that also prompts people to sign up and download the app. This is the latest move by Snapchat to compete against other social media giants such as Facebook, Instagram, and Twitter.

This month, Snap hired Rahul Chopra, who is the former CEO of Storyful, the content provider that shares stories on social media and was purchased by News Corp for $25 million in December of 2013. Chopra’s LinkedIn profile title reads “Head of Stories Everywhere, Content” at Snap Inc. and he is the former Senior Vice President and Global Head of Video at News Corp.

Snapchat is hoping that the embeddable Snaps will be used by news, entertainment, and sports sites. Allowing Snapchat content to be shared across a broader web ecosystem should provide Snap with more exposure which should spur growth and be more enticing to advertisers. Snap could potentially get into the content licensing game for added revenue. Snapchat’s parent company, Snap Inc., declined to comment on the possible new developments.

Cheddar also reported Snap’s goal in 2018, which includes the “increase the overall output of content in the redesigned Discover feed, widen content distribution, and double-down on news.” Earlier this month, Snapchat announced a new desktop app called Lens Studio for Mac and Windows. The app allows Snapchat users to design their own Snapchat Lenses.

Snap went public in February and is attempting to find ways to increase user growth and make their social media platform more profitable. Snap had an atrocious third quarter after badly missing expectations and causing its stock to nosedive. Snapchat only had 3% user growth from the previous quarter, had a 60% drop in advertising rates, and took a $40 million charge for overestimating the demand for its Spectacles glasses. Plus Facebook and Instagram have successfully replicated many Snapchat features that were once exclusive to the company. Currently, Facebook and Instagram don’t allow embeds on Stories, so this could give Snapchat an edge.

[Cheddar]

GREEN BAY, WI - SEPTEMBER 10: The name of the late Reggie White of the Green Bay Packers, inducted into the NFL Hall of Fame this summer, is unveiled before a game between the Packers and the Chicago Bears on September 10, 2006 at Lambeau Field in Green Bay, Wisconsin. (Photo by Jonathan Daniel/Getty Images)

Editor’s Note: Welcome to a daily column we run here at BroBible breaking down the day’s biggest stories in sports finance with commentary from the equities analyst and sports fanatic perspectives. It comes to us via our friends at JohnWallStreet, publisher of a free e-mail newsletter focused on sports related public equities and their subsidiaries. You can sign up here.

Rising Cap, CBA Clauses Change NFL Team-Building Strategy

The NFL salary cap has risen from $120 million in 2012 to $167 million in 2017, escalating $10 million annually over the last 4 years; while the value of rookie contracts has simultaneously declined after the players negotiated to increase cap allocation for veterans, within the 2011 collective bargaining agreement. The current CBA also allows for teams to roll over available cap space to the next season, creating a situation where teams can stockpile money (see: Browns, 49ers and Jets all have over $100 million to spend this offseason). Those large sums of available cap space have changed the perception that free agency is a collection of desperate teams overpaying to acquire talent on the decline, to a viable roster-building strategy with empirical data to support those beliefs; 6 of the top 10 spenders during the 2016 offseason made the 2017 playoffs, with the Jaguars (spent $20 million more than anyone else last offseason) turning it around from 3-13 to 10-6.

Howie Long-Short: NFL players are underpaid relative to athletes in other professional sports. Their careers are shorter, their contracts are rarely guaranteed in full and there are simply far more players divvying up the revenue allocated. NFL teams also don’t tie contracts to a percentage of the salary cap, so as the cap rises, star player contracts become relative bargains. Only once a player receives a franchise tender (a tactic used to retain valuable free-agents) is the contract tied to a percentage of the salary cap, and even then, it’s an average of the Top 5 players at the position or a 120% increase from the year prior; far less than a player could earn on the open market.

Fan Marino: The Jets gave up a 1^st and 3^rd round pick to acquire restricted free-agent (and current HOF) Curtis Martin in March of 1998. There was another 1998 free-agent signing that receives far less acclaim, but deserves to be recognized among the all-time great free-agent acquisitions. In February of 1998, the Jets made Center Kevin Mawae the highest paid player at the position with a 5-year $17 million contract. Mawae, who went on to play 8 seasons with the Jets, including 7 times as a First Team All-Pro, is a 2018 HOF finalist. Pro-football-reference.com, compares Mawae’s career to those of Mike Webster, Gene Upshaw, Jim Otto, Larry Allen, John Hannah, Gary Zimmerman, Will Shields, Walter Jones and Jonathan Ogden. What do all those guys have in common? Their busts reside in Canton, Ohio.

Kering to Spin Off Puma SE, Focus on High-Margin Luxury Brands

Kering (OTC: PPRUY) has announced plans to spin off a majority stake in Puma SE (PMMAF), enabling the company to focus on its high-margin luxury brands Gucci, Yves Saint Laurent and Balenciaga. CFO Jean-Marc Duplaix indicated the group would also look to rid itself of the boardsports label Volcom. The company will distribute 70% of Puma shares to its investors, reducing its own stake to 16%. The transaction price will be determined at April’s shareholder meeting. PPRUY shareholder Groupe Artemis (see: Francois Pinault), will become PMMAF’s largest shareholder; controlling 29% of the company.

Howie Long-Short: Kering paid $6.4 billion for Puma in 2007, slightly above the current market cap ($6.1 billion); despite the stock price climbing 45% over the last 12 months. Despite not yet having capitalized on the turnaround (profits fell from $324 million in ’07 to $6.3 million in ’13, before rising to $161.5 million over the first 9 months of ‘17), it makes sense for Kering to sell their sportswear (and lifestyle) brands; as Duplaix explained, the company has found itself in “a sort of imbalance, linked to the outperformance of the luxury sector.” In other words, their sportswear businesses were dragging down the overall performance of the company; particularly Gucci, among the hottest names in fashion.

Fan Marino: PMMAF, the German footwear and sports apparel manufacturer, will report full year earnings on February 12^th; after having increasing profit guidance 3x in 2017. The company turnaround can be attributed to a refocusing on the world’s most popular sports (soccer, running, motorsports) and a boost in women’s sportswear sales. Puma publicly stated it welcomes the transaction, but shares closed -4.4% on Thursday amid concerns the company lost a powerful backer.

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Fox Sports Announces WC Content Partnerships with Twitter, Snapchat

Twenty First Century Fox Inc.’s (FOXA) Fox Sports, which holds the exclusive English broadcast rights to the 2018 World Cup, has announced several content partnerships that will expand their coverage beyond the television screen. FOXA announced plans to stream exclusive digital content on Twitter, Inc. (TWTR), including 27 live shows (30 minutes per) and near real-time highlights of every goal scored. On Snapchat (SNAP), the broadcast network will create “Publisher Stories” using video, text, artwork and motion graphics to comprehensively document every day of the tournament. SNAP will also produce FIFA World Cup “Our Stories”, featuring highlights and exclusive fan reactions. The 2018 World Cup, hosted by Russia, runs from June 14^th through July 15^th.

Howie Long-Short: To boost advertiser interest, Snapchat commissioned a recent study (using internal data and insight from Nielsen) on the company’s “unique audience”; users more active on SNAP than they are on other social platforms. The study focused on a subset of users interested in sports and sports-related content. It found SNAP users are more likely to be sports fans (i.e. watch, attend, stream games) than non-users, are more active on their smartphones at sporting events (important to activate and connect with fans) and “feel a stronger connection to sports” (i.e. spend more on officially licensed products). That sounds like a platform all sports leagues might want to explore.

Fan Marino: Twitter is reportedly exploring the concept of implementing micro-payments that would enable sports fans to watch the endings of close games; think iTunes for sporting events. I don’t see it. Fanatics (or gamblers) who would care about the ending of a close game, already have access to the out-of-market packages. The casual fan will simply continue to catch the highlights as soon as the game ends, for free. Proponents of this idea point to video games and the success in-game micro-payments, but gamers are engaged. I don’t believe that’s a valid case study.

Still reading?  Make sure to sign-up for our free daily newsletter

What is JohnWallStreet?

JohnWallStreet is not a person or location, but a destination for the educated sports fan.

While we won’t be publishing “hot takes” on LeBron’s relative greatness to Jordan, we will be offering up the most relevant sports related finance news, in easily digestible bites, with commentary from both the equities analyst and sports fanatic perspectives.

We’ll cover publicly traded professional teams & stadiums, television networks, apparel & footwear companies, equipment companies, ticketing companies, content and facilities providers. If it trades on Wall Street, and has a sports angle, it’s in our wheel house.

Howie Long-Short and Fan Marino will be providing their expert opinions on each story. They have slightly different areas of expertise. Fan Marino is a firm believer that the SEC is the premier football conference. Howie Long-Short knows it as the Securities & Exchange Commission. Fan Marino lives and dies with the college selection of 5 star, blue chip recruits. Howie Long-Short spends his days analyzing blue chip stocks. Howie Long-Short knows that Black Monday occurred on October 19th, 1987. Fan Marino swears it happens every January after Week 17. You get the point.

Shutterstock

After Facebook and Instagram have ripped off key features from Snapchat, Twitter joins the other social media platforms by snagging a Snapchat-style tool. Twitter is developing a tool to make it easier for users to post video instantly. The San Francisco-based company already has a working demo of the camera-oriented product, but it hasn’t been finalized. There is no timeline on the release of this new tool. Bloomberg reported that the tool could “change significantly over the next several months.”

Right now on Twitter, you need to use a separate camera app before uploading video to Twitter. But the new Snapchat-like feature will cut down the number of steps by allowing Twitter users to use a built-in camera option in the app to upload photos and cameras in seconds. Twitter is hoping that the new feature will increase engagement and entice users to upload more videos and capture more real-time events. Facebook and Instagram implemented a similar feature back in 2016.

Twitter CEO Jack Dorsey called the app’s user experience “confusing” in an interview with Recode in 2016. Dorsey also complimented Snapchat by saying they are “recognizing that we’re going to press buttons less and gesture more.” In recent months, Twitter has made several changes including doubling the character count to 280 and allowing users to thread multiple tweets.

[Bloomberg]

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THE HEADLINES

Estimated Read Time: 3 minutes and 19 seconds

SNAPCASH FLOW

Snapchat is like that friend from your hometown who still lives in his parent’s basement: he’s constantly disappointing everyone around him so when he does something even remotely positive the excitement is palpable. 

Evan Spiegel’s dick-pic sharing app lost $350M vs. a predicted $440M in Q4. That brings Snap’s total loss for 2017 to $3.45B. Daily active users (DAUs), one of Silicon Valley’s favorite buzzwords, increased by 8.9M in Q4. What size rock do you have to be living under to just be hearing about Snapchat now?

Snap’s stock rose above its IPO price on the good (read: not as bad as everyone thought) news. But there is optimism that Snapchat is ready to sit at the big kid table, having made updates to its interface (which has had mixed reviews), programmatic ad revenue is becoming more profitable and most importantly, your mom still hasn’t signed up for Snapchat.

Water Cooler Talking Point: “Will they just let Spectacles die already? They haven’t been cool since Evan Spiegal was still driving a Miata and dating non-super models. The fact that they are a line item in Snap’s earnings report is an insult to investor’s intelligence.”

SIZE MATTERS

What cures a headache caused by miles of red tape, countless design change delays and a $1B investment? Launching your car into orbit on your rocket. SpaceX’s Falcon Heavy launch sent the largest rocket currently in use towards the heavens. This isn’t a rocket measuring contest but Elon’s isn’t quite as big as the Saturn V that carried astronauts to the moon.

Loaded with a Tesla Roadster, complete with a dummy dressed in a space suit, the Falcon Heavy took off from the Kennedy Space Center at 3:45 PM on Tuesday. Musk’s Big F*ckin’ Rockets carry the thrust equivalent of 18 Boeing 747s.

After liftoff, the center core of the rocket, the part carrying Elon’s car, was supposed to break away and land back on one of SpaceX’s drone ship. That piece of the rocket apparently missed its mark, according to an unlisted live stream of the launch that continued after cameras stopped rolling. So basically we missed the best part. You’re better than that, Elon.

Water Cooler Talking Point: “At this point in my life, owning a brand new Tesla seems like a pipe dream. Launching that brand new Tesla into space? That’s a financial stratosphere we all hope to reach someday (pun intended).”

OVER-THE-TOP, A DISNEY STORY

Last year Disney announced that they would remove all of their movies from Netflix. The reason? They were planning to create a streaming service all their own. Don’t worry, you can still watch Toy Story 4 on Netflix through 2018.

Today Disney announced it is re-launching the ESPN app with an over-the-top feature called “ESPN plus,” that allows users to stream ESPN programs for $4.99/month. The “plus” translates roughly to “every f*cking sporting event ever.” The app will stream live sporting events not seen on other ESPN channels. If a live sporting event isn’t making it onto “the Ocho”, who is actually watching it? Right Cotton?

The ESPN Plus app is Disney’s answer to “cord-cutters” and “cord-nevers” who are “starting to adopt less expensive, over-the-top packages,” according to CEO Bob Iger. The app will stream over 10k MLB, NHL, MLS, collegiate, and Grand Slam tennis events. Disney’s stock jumped on the news. Consider that a fairy tale ending.

Water Cooler Talking Point: “I can’t wait to FINALLY see the Prairie View A&M vs. Texas Southern field hockey game this year. GO LADY PANTHERS!”

IN OTHER NEWS

• Steve Wynn is out as the CEO of Wynn Resorts after allegations of sexual misconduct. And to think, you just started to believe that rich guys in Vegas weren’t super creepy.
• Uber and Bell Helicopters are partnering to bring us flying taxis. The flying cabs will be functional by 2025 according to Uber. The bad news? “Get to the choppa” jokes are going to get old really fast.
• Game of Thrones directors David Benioff and D.B. Weiss are set to direct a Star Wars’ spinoff. We’re interested to see how they manage to work nudity into the Star Wars’ universe. 
• Doritos says they’re rolling out a new chip with less crunch and cheese dust made exclusively for women. There’s no way that this could end poorly. 
• US indices were up yesterday:
  • DOW: +2.33%
  • S&P 500: +1.74%
  • NASDAQ: +2.13%

TALKING SHOP

Professional motivation, tips, tricks, hacks & resources carefully-curated by yours truly. Something you’d like to see featured? Shoot me an email at team@thewatercoolest.com

LET’S GET IT ON

I’m not easily sold on things. So when one of my favorite new podcasts, American History Tellers, pulled the old bait-and-switch and tried to sell me on one of the other podcasts living on their network, Wondery, I was skeptical.

Meet Business Wars, a highly produced (think: NOT Joe Rogan rambling for 2 hours) podcast that mixes American Greed, those explainer scenes in the Big Short and Celebrity Death Match to create a story about two companies going at it the the no-holds barred gauntlet that is the world of commerce.

The first episode is about Netflix and Blockbuster trading hay makers in the mid-2000’s and I’d be lying if I said I wasn’t picking sides like your grandmother watching day-time telenovelas even though she doesn’t speak Spanish.

(BTW, Business Wars didn’t pay me to say any of this)

SERVE AND PROTECT

Citizens of New York City can breathe a bit easier tonight, the biggest threat to their security and well-being is off the streets: police officer’s standard issue Nokia Windows phones.

Their new weapon of choice? iPhone 7’s.

So it got me thinking. What’s your preferred work phone? Blackberry, Android, iPhone … or do you go dark outside of working hours? Let me know at team@thewatercoolest.com

HOMESTEAD, FL - NOVEMBER 18: Kevin Harvick, driver of the #4 Jimmy John's Ford, stands in the garage area during practice for the Monster Energy NASCAR Cup Series Championship Ford EcoBoost 400 at Homestead-Miami Speedway on November 18, 2017 in Homestead, Florida. (Photo by Matt Sullivan/Getty Images)

Editor’s Note: Welcome to a daily column we run here at BroBible breaking down the day’s biggest stories in sports finance with commentary from the sports money and sports fanatic perspectives. It comes to us via our friends at JohnWallStreet, publisher of a free e-mail newsletter focused on sports related public equities and their subsidiaries. You can sign up here.

NASCAR’s Kevin Harvick Discusses the Daytona 500 and the Success of “Bloomin’ Mondays”

The 60^th annual edition of the Daytona 500, will be run on Sunday. JohnWallStreet will be in attendance, along with the 500 fans that Busch beer (BUD) is bringing to the event; providing coverage all weekend long (follow us on Twitter @HowieLongShort). Before we head down to Daytona, we got a chance to catch up with Kevin Harvick; who finished 3^rd in 2017 Monster Energy NASCAR Cup Series standings. In Part 2 of 2 (link to Part 1 of interview), Kevin discusses his sponsors for the 2018 season, the significance of this particular race and the success of “Bloomin’ Mondays”.

JWS: The Daytona 500 is the biggest event on the NASCAR calendar. For those that are not NASCAR fans, can you try to explain why that is and the significance of the race?

Kevin: Well, it goes back to when they raced on the beach. This is the birth place of our sport. Bill France had a dream to build a really big racetrack and came and built the Daytona Speedway. There is no other race that matches the hype and there is no other race that matches that magnitude of winning the Harley J. Earl Trophy; putting your name on the list of Daytona 500 winners. It’s hard to explain the magnitude of it, until you experience winning the race. The celebration is different, you celebrate like you won a championship, because, basically you have. Winning the Daytona 500 can make a whole year. 

JWS: If you must pick one, do you want to win the Daytona 500 or the Monster Energy NASCAR Cup Series Championship?

Kevin: I want to win them both (laughing) but, I will tell you this, in 2007 when we won the Daytona 500, we did not have a great year; but, nobody remembers anything about that year except for, that is the year that I beat Mark Martin in the Daytona 500. It’s just that big. You have more sponsors show up, more celebrities show up, more fans show up, the TV ratings are higher, the radio ratings are higher, the exposure is greater and there isn’t anything about it that isn’t bigger.

JWS: Do you have any new sponsors in place for the 2018 season?

Kevin: Everything is pretty much the same. Jimmy John’s is on board again, Busch (BUD) is the other primary; along with Mobile One (XOM). Outback (BLMN) is activating heavily with their “Bloomin’ Mondays” (editor note: only program every Outback franchisee participates in) and they’re seeing a $10,000-$12,000 increase (in revenue, per store), pretty much every time we get a Top 10 finish.

Howie Long-Short: International Speedway Corporation (ISCA) spent $400 million on Daytona International Speedway renovations, for annual incremental EBITDA of just $15 million. That’s not an ideal ROI.

Fan Marino: Do you have a “most memorable” Daytona 500 experience, as a fan?

Kevin: I went there in 1995 for the first time and was in the grandstand going into turn one, watching the qualifying races. I grew up in Bakersfield, CA. I had never been to a racetrack of that size, let alone to the Daytona 500; so, to sit there and watch those cars go around the racetrack and to see all the cars you see on TV, it was eye opening. (note: Sterling Marlin won the 1995 Daytona 500.)

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NASCAR Experiences 80% Increase in Snapchat Viewership Following App’s Re-Design

A newly re-designed Snapchat application (SNAP), with an increased focus on Discover, has given NASCAR an 80% boost in the number of viewers who watch its stories. Discover, the platform that allows verified media companies (plus influencers, brands and celebrities) to run their own channels and to split the ad revenue generated, was given its own section following the SNAP update. On last week’s earnings call, the company announced that +/- 25% of all users were using the re-designed app; insinuating viewership numbers should continue to increase. The re-design will be fully deployed by March 31^st.

Howie Long-Short: While the re-design is being panned by younger users, it appears to be serving its purpose; to give publishers, brands, influencers (i.e. the people who monetize the platform) the ability to increase eyeballs (and ultimately revenue). SNAP reported Q4 ‘17 revenue increased 72% YOY (to $286 million), while revenue per user grew 46% YOY; the image messaging and multi-media mobile application also added 8.9 million daily users (to 187 million) during the most recent quarter. It wasn’t all positive news though, GAAP (generally accepted accounting principles) net losses more than doubled (as costs soared, ex: R&D +260%) during the quarter. It should be noted that with a market cap of +/-$24 billion, the company is trading at an absurd +/-30x ’17 earnings.

Fan Marino: The Hashtag 500 will be returning for the 60^th running of the Daytona 500, giving fans the chance to compete on social media for memorabilia from Sunday’s race. To play, tune in to Fox at 2:30p EST and follow @NASCAR on Twitter (TWTR); they’ll be releasing custom hashtags (every 20 laps) that give fans the chance to enter random drawings for race gear (see rules, here). A driver’s fire suit, helmet, steering wheel and a set of Goodyear Tires are among the prizes to be won; the grand prize is a trip for 2 to the ’18 Monster Energy NASCAR Cup Series Championship in Miami. The ’16 Hashtag 500 set several NASCAR social media records, including tweets per minute (13,000).

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Entertainment & Retail District at Daytona International Speedway Opens

One Daytona, a lifestyle and entertainment complex located directly across the street from the Daytona International Speedway, is now open. Developed by the International Speedway Corporation (ISCA), the 300,000 SF space (estimated to cost about $150 million) is filled with a collection of shops, restaurants, hotels and apartments. Victory Circle, the epicenter of the newly created entertainment and retail district, hosts live music Thursday-Sunday; always free and open to the public.

Howie Long-Short: The International Speedway Corporation (ISCA) owns and operates the Daytona International Speedway and a dozen other race tracks; including the Talladega Superspeedway and the Martinsville Speedway. In late January, the company noted that full-year 2017 revenue ($671.4 million) grew to levels it hadn’t seen since ’10, sending share prices up 10.6% (to $45.30). Shares hit a high of $47.15 on February 1^st, before settling back down to $45.05 at Thursday’s close.

Fan Marino: Daytona 500 News and Notes:

• Alex Bowman, the man replacing Dale Earnhardt Jr. at Hendrick Motorsports (and driving the #88 car), won the pole for Sunday’s race; finishing at the top of the leader board after two qualifying rounds.
• Peyton Manning will serve as the Honorary Pace Car Driver, where he will be behind the wheel of a Toyota Camry XSE pacing the 40-car field prior to Sunday’s race. (Editor Note: JohnWallStreet is taking a lap in the pace car, early Sunday morning. To see video, follow us on Twitter @HowieLongShort).
• Academy Award and Golden Globe winning actress (for role in Monster, ‘03) Charlize Theron, will be the Honorary Starter for the 60^th annual Daytona 500. Theron, also known for roles in Italian Job, A Million Ways to Die in the West and The Fate and the Furious, will waive the green flag indicating the race is starting.

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Scott Barbour/Getty Images

Imagine having an idea, working tirelessly grow a company out of that idea for several years, employing over 300 people who work to feed their families, garnering 187 million fans of your company, and then to have it all undermined by a 20-year-old reality television star.

Welcome to 2018, folks.

On Wednesday, Kylie Jenner tweeted to her 24.5 million followers about her disinterest in Snapchat. Less than 24 hours after the tweet, Snapchat’s shares plummeted by as much as 7.2%, equating to a $1.3 billion market value hit.

At the time of me writing this, the tweet has 256,000 likes and 46,000 retweets.

The market value hit also comes at the heels of Snapchat’s new app design, which many find convoluted and aesthetically displeasing. It’s impossible to determine how much Kylie’s tweet contributed to the stock plunge, but suffice it to say that one of the world’s most popular teenagers and the platform’s most recognizable users saying she’s like, so over the app is bad for business.

Likely recognizing the impact of her social footprint, Kylie followed up the tweet with a ‘jk, love ya,’ but the damage has already been done.

God, life must be so easy when you assert the authority to decide the fate of multi-billion dollar companies.

“No Comcast I will not go on hold or I will burn your entire company to the ground.”

A life without the headaches of Comcast. A man can only dream.

[h/t Bloomberg]

Getty Image

In 2011, a few Stanford students got together to make an app that totally wasn’t designed solely for people looking for a way to send nudes that self-destruct upon arrival. A few months later, the world was introduced to Snapchat, which quickly became incredibly popular among anyone who wanted a way to document their debauchery without having to worry about their aunt posting a concerned comment on a Facebook picture.

It was only a matter of time until Snapchat became a major player in the social media game. Things got taken to the next level a year ago when its parent company, the creatively-named Snap, went public with a $25 billion valuation— which increased founder and CEO Evan Spiegl’s net worth to more than $4 billion on the day of its IPO.

Based on recent reports, it didn’t take him any time to reap the benefits. 

According to Tech Crunch, an SEC filing revealed the CEO had 37,447,817 units of restricted stock in his possession when Snap hit the NYSE in 2017 that was worth over $636 million. He was also the recipient of another $1 million in benefits and a paltry $98,000 salary.

Siegel might have made bank on Snapchat, but most investors haven’t been as lucky. The stock saw a steady decline in value after hitting a high of over $27 right after the IPO before bouncing back after an earning’s report earlier this month, but a much-maligned redesigned and a tweet from Kylie Jenner that caused it to lose over $1 billion in value.

I wish Spiegel, wife Miranda Kerr, and all of their money the best of luck in life together.