Snap, Valued at $18 Billion, Reportedly Will Go Public in 2017
If the IPO is indeed scheduled, Snap would be the highest-valued company to go public in a U.S. exchange since 2014.Photo-messaging app maker Snap Inc., which as Snapchat unabashedly turned down a $3 billion buyout offer from Facebook back in November 2013 and left jaws dropped all over the business world, is planning to go public, according to a report Oct. 6 in The Wall Street Journal. Snap apparently is examining an initial public offering that could value the company at a whopping $25 billion. This could happen in early 2017, The Journal said. Snap's main product, Snapchat, is a mobile app that that lets users, mostly teenagers—and then, mostly girls—add captions to photos or videos and share them with friends, and then make the content disappear. Photos can only be sent in the moment; there is no uploading later. Young girls take pictures of themselves making silly faces, bolder people perhaps send more lascivious content, and then poof! It's gone—unless the recipient manages to save a screenshot in time.
The company, whose CEO is 26-year-old Evan Spiegel, could start selling stock as early as March, according to the report. The Journal also said Snap hasn't yet hired a bank to help work on its S-1 public filing affidavit.