Snapchat IPO is go: Photo-messaging app said to have filed for flotation
Photo-messaging app Snapchat is reported to have filed for an initial public offering (IPO), which could value the company at up to $25bn (£20bn).
The US flotation, which would be the biggest since Chinese e-commerce giant Alibaba went public in 2014 valued at $171bn, has been on the cards for some time.
Read more: Snapchat is marching towards a $25bn March IPO
Reuters first reported yesterday that Snap Inc, Snapchat’s parent company, had filed with the Securities and Exchange Commission under the US Jumpstart Our Business Startups Act.
Companies are able to secretly file for an IPO if they have revenues of less than $1bn.
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It was reported that the filing was made before Donald Trump’s election as US President last week and the IPO could happen as soon as March.
In May this year, co-founder Evan Spiegel ruled out an acquisition by a larger company and said: “We need to IPO.”