Wednesday 16-11-2016 13:30 Snapchat IPO Snap – the company formerly known as Snapchat – has reportedly filed for an IPO (Initial Public Offering) which could value the company as high as $25bn (£20bn). The company confidentially filed with the Securities and Exchange Commission, taking advantage of the US Jumpstart Our Business Startups Act, which enables businesses with under $1bn revenue to file for an IPO while keeping their financials under wraps. If successful, Snap could go public as soon as March, Reuters reported, citing anonymous sources familiar with the situation, and is expected to value the company at $20bn-25bn. That's slightly lower than the $25bn-plus figure cited by the Wall Street Journal when it first reported that Snap was working on an IPO, but it would still be the biggest IPO for a US tech company since Facebook's filing in 2012, which valued the company at $81.2bn. A $1.8bn funding round in May valued the company at around $20bn. The possibility of an IPO casts Snap's recent moves – rebranding from Snapchat, opening up its platform to direct response advertisers, introducing its Spectacle smart glasses – in a new light, suggesting it may be trying to combat investor concerns that the company is wholly reliant on ads within the messaging app as its revenue source.
Snap, formerly referred to as Snapchat, has filed for an IPO at a value of 20bn-$25bn, according to reports. The company has filed with the Securities and Exchange Commission under the US Jumpstart Our Business Startups Act, which allows it to file for an initial public offering without revealing its financials, as it remains under $1bn in revenue. If the IPO is successful, Snap could be public as quickly as March 2017, with sources expecting the company to value at $up to $25bn. The IPO could be the biggest for a US tech company since Facebook filed in 2012 for $81.2bn.