Report: Snap files for IPO that could value it at $25B

Share This Story!

Let friends in your social network know what you are reading about

Report: Snap files for IPO that could value it at $25B

It could happen as early as March, Reuters reports.

Loading…Post to Facebook
{# #}
CancelSend

Sent!

A link has been sent to your friend's email address.

Posted!

A link has been posted to your Facebook feed.

Join the Nation's Conversation

To find out more about Facebook commenting please read the Conversation Guidelines and FAQs

Report: Snap files for IPO that could value it at $25B

Jon Swartz , USA TODAY 5:01 p.m. EST November 15, 2016
636138819598604842-Snapchat.JPG

Snapchat says its younger users have been immersed in the election, with nearly two-thirds following it closely.(Photo: Carl Court, Getty Images)

SAN FRANCISCO — Oh, Snap!

The parent company of virtual-messaging app Snapchat intends to go public next year in a deal that could value it at up to $25 billion and prop up what has been a languid market for tech public offerings.

The Venice, Calif.-based company filed confidentially with the Securities and Exchange Commission for an IPO "as early as March," according to a Reuters report on Tuesday. Last month, the Wall Street Journal, citing people familiar with the matter, reported an IPO was in the offing.

Snap declined comment.

Should 4-year-old Snap take the plunge, it could spark a renaissance of sorts in what has been a slumbering market for tech IPOs. This year is on pace to record the fewest IPOs since 2009, according to market researcher PitchBook.

Fellow unicorn Dropbox, an online storage service, has been mentioned as an IPO candidate in 2017, and Uber and Airbnb might follow suit in 2018, according to analysts and published reports.

Recently, Snap diversified into the camera market with Spectacles, $129.99 glasses similar to Google Glass that can record up to 10 seconds of video.

A consumer stands in line waiting to buy Snapchat's

A consumer stands in line waiting to buy Snapchat's Spectacles, on sale Thursday. (Photo: Jefferson Graham, USA TODAY)

Follow USA TODAY San Francisco Bureau Chief Jon Swartz @jswartz on Twitter.

CONNECTTWEETLINKEDINCOMMENTEMAILMORE
Read or Share this story: http://usat.ly/2fvffk3

SHARE THIS
Previous Post
Next Post