“Snap Inc. has three classes of common stock, Class A, Class B, and Class C, but the public shares it's offering will be Class A — the only class without voting rights.
Spiegel and Murphy own all three types of stock, and if either Spiegel or Murphy die, nine months later, the remaining cofounder would be able to "exercise voting control over our outstanding capital stock, " i.e. their control is going to last for a very long time.”