Snapchat Parent Company Snap Inc to Publicly File For IPO Next Week (Report)

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Snapchat

Reports have placed the company's valuation at $25 billion.

Snap, Inc., the parent company of popular social media platform Snapchat, plans to publicly file for its initial public stock offering late next week, according to a report in today's ReCode which placed the company's value at $25 billion

Last November, Snap reportedly filed privately for an IPO with the Securities and Exchange Commission, but next week's public filing will allow potential investors and others to analyze the business.

Once the filing is made to the SEC, there's still a quiet period of roughly nine weeks before the business actually goes public—which would place Snap's IPO for sometime in March.  

Snapchat was co-founded in 2011 by CEO Evan Spiegel while still a student at Stanford University and has grown significantly beyond its roots as an app for disappearing photos. It now offers 24-hour public streams, called Stories, and has a platform for publishers and entertainment brands, Discover, that refreshes each day.

User numbers for the photo and video sharing app last June were reported to be at 150 million daily active users worldwide. Earlier this month, however, a former Snapchat employee filed a lawsuit against the company claiming the numbers were inflated. 

The company, which famously rebuked Facebook CEO Mark Zuckerberg's $3 billion acquisition offer, has also made a number of acquisitions to build out its product offerings, including emoji-maker Bitstrips.

The Venice Beach-based company rebranded as Snap, Inc. last September.

Snap, Inc. declined to comment for this story.


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