WSJ: Snap Inc. is working on $25 billion IPO
The Wall Street Journal (WSJ) reported on Thursday that ephemeral messaging service Snap Inc. - previously called Snapchat - is preparing for an initial public offering (IPO) by late March 2017.
According to the report, based on the information shared by unidentified sources, the imminent IPO could potentially value Snap Inc. at approximately $25 billion.
Though the reported IPO of Los Angeles-based Snap Inc. will apparently mark one of the most closely watched stock market debuts in a long time, the company has not yet officially confirmed the move.
Nonetheless, the WSJ report about Snap working on a $25 billion IPO comes amid projections - from eMarketer - that the ad revenue of the company, which competes with Facebook and other social networks, will likely witness an "explosive" growth over the next few years.
With Snap's ad revenue this year expected to touch nearly $366.69 million, eMarketer's chief analyst Cathy Boyle said in a recent report that Snap has a young user base, and added: "Advertisers are attracted to Snapchat for its broad reach among young Millennials and those in Generation Z, which are valuable demographic groups for many businesses,"
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