Wednesday, October 26, 2016

Report: Snapchat Looking To Raise $4 Billion In IPO

Venice-based Snapchat is hoping to launch an IPO, which will raise the company an astounding $4 billion in capital--valuing the company at between $25 billion and $35 billion--according to a report on Wednesday from Bloomberg. The report cites "people familiar with the matter" for the information. Snapchat is in the midst of an IPO effort being led by Morgan Stanley and Goldman Sachs Group. The latest IPO big tech IPO of that size was for Facebook, which raised $16 billion in its IPO back in 2012. Snapchat recently changed its corporate name to Snap, Inc.

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