Snap Inc officially files for IPO expects a 3 billion valuation

We haven’t had a major IPO in several years and now Snap Inc. has filed for one. The last time a US social media platform that listed itself was Twitter back in 2013.

Snap Inc. Is the parent company of Snapchat and it calls itself “a camera company” in the documents, filed for the listing at the New York Stock Exchange. According to SEC filing, Snap expects to reach a $3 billion market cap. For the past year the company recorded $404 million in revenue after it opened its platform to advertisers.

By the end of Q4 2016 Snapchat has 158 million daily active users, which is a 48% YoY growth. Top 10 advertising markets are United States, China, Japan, UK, Germany, France, Australia, Brazil, Canada and Italy.

Evan Spiegel and Bobby Murphy, co-founders of the platform will maintain control over Snap Inc after the filing.

Source

! ( hope useful)