Snap Inc. has confidentially filed paperwork for an initial public offering (IPO) that may value the popular messaging platform at as much as $25-$35 billion, a major step toward what would be one of the highest-profile stock debuts in recent years.
The final decision has been made and the size of the IPO may change, the people said, asking not to be identified as the details aren’t public while speaking to Bloomberg. The valuation could reach as much as $40 billion.
Snapchat started in 2012 as a free mobile app that allows users to send photos that vanish within seconds. It has more than 100 million active users, about 60 percent of whom are aged 13 to 24, making it an attractive way for advertisers to reach millennials.
The firm is believed to have chosen Morgan Stanley and Goldman Sachs Group Inc as lead underwriters for an initial public offering. Source- Reuters / Image- Malwarebytes Labs