Friday, February 03, 2017

Snapchat files for $3 billion IPO as era of secrecy ends - The Boston Globe

New IPO math; also see Snap's IPO to Be Haunted by Twitter and GoPro (Bloomberg) and Snap commits $2 billion over 5 years for Google Cloud infrastructure (TechCrunch)
"Snap Inc., the maker of the disappearing photo app Snapchat, filed publicly for an initial offering, the first US social-media company to do so since Twitter Inc. more than three years ago.

The company filed with an initial size of $3 billion, a placeholder amount used to calculate fees that may change. Snap plans to raise as much as $4 billion in the IPO, people familiar with the matter have said, for a market value of as much as $25 billion.

The company’s net loss widened to $515 million in 2016, on revenue of $404 million, according to the prospectus filed Thursday. That compares with a loss of $382 million in 2015, on revenue of $59 million."
Snapchat files for $3 billion IPO as era of secrecy ends - The Boston Globe
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