Snap, formerly referred to as Snapchat, has filed for an IPO at a value of up to $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. Snap is expected to raise between $100m (£65m) and $250m, valuing the firm at around $600m. The IPO could be the biggest for a US tech company since Facebook filed in 2012 for $81.2bn.
Snap, formerly referred to as Snapchat, has filed for an IPO at a value of up to $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 $20bn-$25bn. The IPO could be the biggest for a US tech company since Facebook filed in 2012 for $81.2bn.