Before its IPO,Snap,the parent firm of Snapchat,was an example of a private firm.As a private firm,Snap was

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As a private firm, Snap was run by its founders Evan Spiegel and Bobby Murphy. They had full control over the company and were not accountable to stockholders or a board of directors. However, being a private firm does not exempt it from government regulations or taxation. Also, private firms are legally allowed to raise funds through venture capital firms.

Before Its IPO,Snap,the Parent Firm of Snapchat,was an Example of a Private