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Snap To Publicly File For IPO Late Next Week

  • Re/code, Tuesday, January 31, 2017 8:27 AM

Recode cites source reports that Snap Inc. plans to file its initial public offering late last week which means the company will likely go public sometime in March. The company's valuation could reach $25 billion or more, according to the report. Snap already did a private filing with the Securities and Exchange Commission for its IPO late last year, but the IPO filing will mark the first time the public will get a peak into its financials and core business. Recode reports the "offering is being led by Morgan Stanley and Goldman Sachs, with a whole string of other banks attached, as usual. It will be the first big IPO in quite a while for a leading tech company and is more interesting because it will not be a victory for Silicon Valley. Instead, co-founder and CEO Evan Spiegel created and grew Snap to huge levels from Southern California, where the company is headquartered."

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