Published: Fri, February 17, 2017
Research | By Elizabeth Houston

Snapchat parent company stock valuation at $22.2-B


Spiegel, 26, and Murphy, 28, were already paper billionaires, but Snap has publicly filed paperwork for an IPO, and an amended S-1 document filed Thursday with the Securities and Exchange Commission shows the company hopes to sell its stock between $14 and $16 per share.

The valuation is near the low end of $20 billion to $25 billion range that Snap has initially targeted but it would still crown Snap as the largest USA -listed tech offering since Chinese e-commerce giant Alibaba (BABA) 's $25 billion IPO in 2014. Such a move would give the impression of bursting demand for Snap stock, which would help the company's founders justify an even higher valuation later on.

While the company hasn't officially announced a date for its public debut, sources tell Business Insider the public outing is expected to occur in March.

Trading will follow as soon as the next day on the New York Stock Exchange.

Jury rules Pedro Hernandez is guilty in Etan Patz murder trial
Though they had no new evidence, Hernandez had allegedly "confessed" about strangling a boy to relatives and his church group. For many years, investigators believed that another suspect, convicted pedophile Jose Ramos, was behind Patz's kidnapping.

Anti-Terrorism Measures To Continue Despite Court Setback, Says Trump
If the administration had made a decision to spend a month crafting the order, "everything would've been ideal ", Trump said. It has been met with worldwide criticism and anger with protests being held in America and across the globe.

Janet Yellen: Delaying interest rate hikes "unwise"
The proposals are expected to include deep tax cuts, stimulus spending, trade actions and deregulation. Yellen is scheduled to testify today before the House Finances Services Committee.

The much-anticipated deal would be the largest US tech IPO since Alibaba went public in 2014, and it would make Snap the largest USA tech company to go public since Facebook in 2012, according to Renaissance Capital.

Snap launched itself in 2012 with an app that sends disappearing messages, rebranded itself previous year as a camera company and started selling $130 video camera glasses. Morgan Stanley, Goldman Sachs, J.P. Morgan, Deutsche Bank, Barclays, Credit Suisse and Allen & Company are the joint bookrunners on the deal. The company makes the majority its money through advertising, and it booked revenue of $404.4 million a year ago, up from just $58.6 million in 2015. Existing investors will have one vote for each of their shares, while new investors will have no voting rights.

Gearing up for tech's largest initial public offering in years, Snap on Thursday revealed plans to go public at a valuation of up to $22 billion. The company posted an annual loss of $514 million in 2016.

Like this: