Snapchat has privately filed for an initial public offer (IPO) according to Reuters. No one knows at the moment when this is going to happen but Reuters say it could be as early as March 2017. This is all in line with plans to raise about $4b next year according to reports.
“The Venice, California-based company could go public as soon as March and be valued at $20 billion to $25 billion, making it the largest IPO since Chinese e-commerce giant Alibaba Group Holding Ltd’s went public two years ago valued at $170.9 billion. It would be the largest U.S. technology IPO since Facebook Inc’s debut in 2012 with a value of $81.2 billion.
Snapchat filed with the Securities and Exchange Commission under the U.S. Jumpstart Our Business Startups Act. Companies with less than $1 billion in revenue can secretly file for an IPO, allowing them to quietly test investor appetite while keeping financials confidential.”
Snapchat announced Spectacles; a connected sunglass that’s capable of recording 10 second videos