Snapchat could be worth $40 billion

Snapchat will try to raise $4 billion (R55.9 billion) with its initial public offering (IPO), Bloomberg reported.

Citing sources familiar with the matter, Bloomberg reported that the IPO could value Snapchat between $25 billion and $35 billion.

One source said the valuation could go as high as $40 billion.

They noted that no final decision has been made and the size of the IPO may change.

Now read: Why Snapchat is flawed

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Snapchat could be worth $40 billion