Snap Inc. is filing for IPO next week
Snapchat is a social media that you either canít live without or donít understand. But either way there are strong opinions which makes the platform so popular. And due to its popularity the company behind it, Snap Inc, plans to file for initial public offering(IPO) next week. This means Snapchat will go public sometime in March after procedures are cleared.
The timing of the IPO is not finalized. We havenít seen a big IPO a long time ago and we are quite eager to see how it will roll out. Sources say the company is aiming to be valued at $25 billion.
Snapís main product, Snapchat, is among the most popular social networks for young demographic around the world mostly thanks to its ephemeral product but Evan Spiegel, CEO of Snapchat, says half of the new users are over 25 years old.
Snapchat became so successful that Facebook started copying its products after the unsuccessful purchase in 2012 for $3B when Spiegel declined the offer.