Snapchat on offer for $3Billion
In documents filed with the SEC on Thursday, Snap Inc., parent company of Snapchat, filed to go public. As previously reported, the company will list its shares on the New York Stock Exchange. Its proposed trading symbol is “SNAP.” The maximum proposed offer amount is $3 billion.
This filing does not give us a valuation for the company — which has been reported to be as high as $25 billion — as the exact number of shares being offered by the company is not available. This information will become clear closer to Snapchat’s actual market debut.