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

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

SAN FRANCISCO, Feb 3 (Pakistan Point News - APP - 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.