Visitors Now:
Total Visits:
Total Stories:
Profile image
By SiteProNews (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Snapchat’s Parent Company Looking at $25 Billion IPO for March

Thursday, October 6, 2016 21:15
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Snap — the now-parent company of Snapchat — is working on an initial public offering for as early as March that could value the company at $25 billion or higher, The Wall Street Journal is reporting.

The company, according to the WSJ’s sources, is preparing the paperwork for an IPO with the goal of selling shares in late March. As the report points out, just because those are Snap’s goals, that doesn’t mean they will become reality — it could take longer to arrange the IPO, and the firm may not reach a valuation of $25 billion or more.

If the IPO does go ahead as planned, it will be the largest company to go public on the U.S. Exchange since 2014.

Snapchat last month changed its company name to Snap Inc.

“When we were just getting started it made sense to name our company Snapchat Inc., because Snapchat was our only product,” CEO Evan Spiegel said of the name change. “Now that we are developing other products, like Spectacles, we need a name that goes beyond just one product – but doesn’t lose the familiarity and fun of our team and brand.”

Snap, late last month, announced it is entering the hardware market with Spectacles — sunglasses with a built-in video camera capable of capturing and creating “Memories.” Spiegel has indicated the Smart glasses, which will connect directly to Snapchat via Bluetooth or Wi-Fi, would be released some time this fall.


avatar

The post Snapchat’s Parent Company Looking at $25 Billion IPO for March appeared first on SiteProNews.

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.