Snapchat files for IPO

Snapchat has filed for an initial public offering (IPO), with an expected valuation of between $20 billion and $25 billion.

Reuters reported that the messaging company could go public as soon as March 2017, and will be the biggest new US company listing since Facebook in 2012.

“Snapchat filed with the Securities and Exchange Commission under the U.S. Jumpstart Our Business Startups Act,” stated Reuters.

“Companies with less than $1 billion in revenue can secretly file for an IPO, allowing them to quietly test investor appetite while keeping financials confidential.”

Now read: Snapchat could be worth $40 billion

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Snapchat files for IPO