Snapchat to make high-profile stock debut after revealing IPO plans
by Dominic Rushe in New York from Technology | The Guardian on (#2B92B)
The disappearing picture message service will likely be valued at up to $25bn, cementing co-founder Evan Spiegel's status as one of the richest people in tech
Snapchat is going public. The company that owns the disappearing picture message service revealed plans for an initial public offering (IPO) late Thursday, plans that are likely to value the loss-making five-year-old company at between $20bn and $25bn.
The IPO of Snap Inc will be one of the highest-profile stock debuts in recent years and is likely to be the largest US-listed technology IPO since Chinese e-commerce company Alibaba made its debut at a $168bn valuation in 2014.
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