Lock-up expires 29 August [1]. On the other hand, they have $3.2bn of cash and short-term investments (as of 31 March) while burning about $600MM of cash from their operations (FYE 31 December 2016) a year. That's 5 years to get it right.
EDIT: insider lock-up at T+150 comes in at the end of July.
Its actually the end of July for the first and most important IPO lockup expiry.
> The first key lock-up date for Snap will occur roughly 150 days following the IPO. At that point, pre-IPO investors, such as company insiders, will be allowed to sell their shares. The second major lock-up date applies to 25% of the shares that were offered in the IPO itself. Of the 200 million total IPO shares, 50 million of the shares will be restricted for one year.
EDIT: insider lock-up at T+150 comes in at the end of July.
[1] http://www.nasdaq.com/markets/ipos/company/snap-inc-899497-8...