Snapchat Parent Snap To Raise Up To $3 Bn In IPO

Rukhshan Mir (@rukhshanmir) Published February 03, 2017 | 08:40 AM

Snapchat parent Snap to raise up to $3 bn in IPO

SAN FRANCISCO, Feb 3 (UrduPoint / Pakistan Point News - 03rd Feb, 2017 ) - The parent of the fast-growing social network Snapchat filed public documents for a share offering Thursday, seeking to raise up to $3 billion.

California-based Snap Inc.

, which had earlier filed confidential documents for an initial public offering, was expected to be one of the biggest tech company market debuts in recent years with a valuation likely to top $20 billion. In documents filed with the Securities and Exchange Commission, Snap said it took in $404 million in revenue last year but lost $515 million.

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