The parent company of the photo-sharing app that lets users send videos and messages that disappear in seconds is said to be planning to start selling shares as it was recently given huge value. The Snapchat parent Working on an initial public offering since the company’s app now has a value worth $25 Billion or more.
Snap Inc, the operator of the photo-sharing wonder, Snapchat provided the firm with a huge amount as they draw up plans for an IPO. Moreover, according to the Wall Street Journal, the company might start selling shares by the end of March this year.
The IPO currently valued at $25 billion is now significantly higher than the previous value the app had, which was at $17.81 billion last May, following a base value of $1.81 billion.
Moreover, Snap Inc will be representing the largest IPO by a tech type company since the Alibaba Group Holding Ltd became public back in 2015. Furthermore, it was reported last month, by The Information, a technology website that Snapchat is already conversing with investment bankers regarding an IPO by the end of this year or early 2017.
All of this news only got short statement from the said company via email which read: “We aren’t commenting on rumors or speculation about any financing plans” It is given that the company’s financial information is not public at all, however, a certain research firm called eMarkete has estimated that the Snapchat app would be bringing in a lot of money from advertising next year, possibly amounting to billions.