Snapchat has reportedly filed confidentially for its massive IPO

Snapchat has reportedly filed confidentially for its massive IPO

Posted 14 seconds ago by Matthew Lynley (@mattlynley)
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Snapchat appears to be moving forward in its plans to go public early next year with the company filing confidentially for its IPO, according to a report from Reuters.

In recent years, companies have begun filing confidentially for their initial public offerings well ahead of revealing their financial guts in the formal IPO process. It doesn’t mean that an IPO is absolutely imminent — the company could go public as early as March, as previously reported — but it does mean that it’s going through the motions to get out there.

It was earlier reported that Snapchat was looking to raise as much as $4 billion in its initial public offering that could value it as highly as $35 billion. That’s about double its previous valuation, when it raised $1.8 billion in a financing round in May earlier this year. All these discussions are generally tactics to gauge interest from investors and drum up excitement for the company, though now it appears things are starting to get more formal.

We’re updating this story as more information comes in.

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