Snapchat parent Snap Inc begins IPO process
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. –