Snapchat par­ent Snap Inc be­gins IPO process

The Myanmar Times - - International Business -

SNAPCHAT par­ent firm Snap Inc has filed con­fi­den­tially for a pub­lic share of­fer­ing valu­ing the dis­ap­pear­ing mes­sag­ing plat­form at more than US$20 bil­lion.

The ini­tial pub­lic of­fer­ing would be among the biggest in the tech sec­tor in re­cent years and shine a light on the fast-grow­ing plat­form used by more than 100 mil­lion peo­ple.

It is one of the most prom­i­nent “uni­corns” – a term used for ven­ture-backed firms with val­u­a­tions over $1 bil­lion – along with Uber and Airbnb.

The fil­ing last week was made un­der reg­u­la­tions that al­low the first stages of the process to be kept con­fi­den­tial.

Snapchat de­clined to com­ment on the IPO, which would be the largest since China’s Alibaba in 2014. –

Newspapers in English

Newspapers from Myanmar

© PressReader. All rights reserved.