Snapchat Is Looking For A $22 Billion Valuation
Snapchat´s parent company Snap Inc. revealed in a filing made on Thursday that the company is looking for an initial public valuation of up to $22 billion. This represents a remarkable growth in the social media's financial power and will also turn its co-founders Evan Spiegel and Bobby Murphy into some of the richest figures in Silicon Valley.
Snapchat Eyes A Worth Between $19-$22 Billion
Apparently, Snapchat is looking to price its IPO on March 1 and is also preparing to sell shares between $14 and $16, which is something that would put the company in an important position that could increase its power. This move can also gain a lot of confidence from Wall Street stock analysts and investors, and it would make the whole company worth between $19 billion and $22 billion. In fact, it is also known that the parent company Snap Inc. wants to list 200 million shares under the ticker SNAP on the New York Stock Exchange.
Snapchat´s IPO Would Be The Largest Since Alibaba´s
If Snapchat manages to fulfill its intentions, the company would raise an estimated of $2.3 billion from the shares' sale, which is expected to be invested for expansion. Consequently, this move would give the platform more possibilities to take more actions to increase its popularity, and financial situation.
The Snapchat´s management team that will pitch the company to the investors at its road show will include Chief Strategy Officer Imran Khan, CEO Evan Spiegel and CFO Andrew Vollero, who are expected to play backseat roles. While Khan would probably present mainly on the business model, Spiegel is expected to talk about anything related to the product itself. Although it remains unknown which could be the detailed outcome of this particular event, Snapchat´s anticipated IPO would definitely be the largest in the tech world, since Alibaba went public three years ago, valued at $171 billion.
Google Offered $30 Billion To Purchase Snapchat
Google floated an offer of at least $30 billion to buy Snapchat.
#BoycottSnapchat Is Trending, Why Thousands Of Users Deleted The App
Thousands of Snapchat users have deleted their accounts because of Snap CEO Evan Spiegel's alleged controversial comments about India and Spain.
Snapchat Finally Snaps And Plays The Best April Fool's Prank On Instagram
After months of being copied, Snapchat finally breaks its silence and played the best April Fool's prank on Instagram. It's well-known that Instagram plays copycat on its rival, but now, Snapchat strikes back.
Samsung Galaxy S8 Stunning 'Dual Pixel' Camera Brings Snapchat-like Filters
Samsung's latest flagship, Galaxy S8 has powerful specs, very slim bezels, and a new suprising camera built-in Snapchat-inspired filters.
Facebook Tries To Steal These Popular Snapchat Features
This is the fourth time Facebook has cloned key Snapchat features. The social network giant rolls out two features today that are similar to Snapchat's photos and videos, but renamed them Camera Effects and Stories.
MORE IN ITECHPOST
Apple Watch 3's LTE Sim Support Might Not Be Able To Make Phone Calls
Apple Watch 3, according to Ming Chi Kuo, will be coming with an embedded electronic LTE sim in some models.
'Tokyo Ghoul' Season 3 Delayed By Its Live-Action Movie? Ken Kenaki Returns With Another Identity?
"Tokyo Ghoul" season 3's release is delayed and there are countless speculations as to why it is being pushed back. Reports claim that the show is to give way to "One Punch Man" and "My Hero Acdemia" but new rumors say that it's lack of materials and storyline as well as its live-action movie are causing the delay.
Why Valve’s Revelation Of ‘Artifact’ Dismayed ‘Dota’ Fans?
The unexpected revelations of Valve's "Artifact" card game earned unexpected negative reactions from the Dota community.