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.
Apple Closes Gap With Samsung In The Smartphone Business
Although is not known how the Samsung Galaxy S8 and the iPhone 8 would perform in 2017´s market, many believes that Apple could recover its position as the bigger smartphone maker in the world.
Xiaomi Sold 3 Millions Units Of Redmi 3S In Six months
Considering that Xiaomi will not make the leap to the American market, the Redmi 3S´s success clearly represent a huge help for the smartphone maker, in order to maintain its relevance and popularity.
The Most Incredible Cyber Strikes Ever Made By Anonymous
Recently, Anonymous declared war on U.S. president Donald Trump, which clearly represent another chapter in the rough relationship that the White House has established with these organizations in the last years.
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.
MORE IN ITECHPOST
Facebook Identification Measures Just Got More Stringent for Viral Accounts
Facebook comes out with additional identification measures for viral accounts, here's how to bypass it.
Benefits of LED Grow Lights for Your Indoor Plants
There has been a surge in the number of growers cultivating indoor crops. Some turn to indoor farming in areas like cities, where there are almost no green spaces. Growing indoors takes advantage of otherwise wasted space and makes it possible for anyone to create an indoor garden.
Darkest Dungeon Is Celebrating Its New DLC With A Free Weekend: Here Are Some Tips To Help You Out!
Red Hook Studio's Darkest Dungeon has had a new DLC released on Steam and with it a free weekend. Grab the PvP game and try it out after reading these tips on how you can play the game the best you can.
[Spoiler Alert] Jurassic World 3: Will the Original Cast Be Back?
Jurassic World III is on its way and if you're wondering if you're expecting everything to be the same, you might be surprised. A source stated that the former cast of the Jurassic Park movie trilogy would be reprising their roles in Jurassic World: Dominion.