Snapchat Sets Sights On IPO
According to reports out of Bloomberg, social media giant Snapchat has filed for an initial public offering.
The IPO could take place as soon as March 2017 and seeks to raise as much as $4 billion, bringing the company’s valuation to between $25 and $35 billion all up.
It’s a bold move for a company that only just made the jump into the physical consumer electronics space with its camera-equipped sunglasses but one that could bring them ever closer to chief rival Facebook.
Snapchat’s growing popularity in recent years has guided a lot of Facebook and Twitter’s investments into video content – to limited success.
While it’s too early to tell if Snapchat will be able channeling that popularity into commercial success with their wearable Spectacles, it’s very much their fight to lose.
With documentation attached to the filing pegs the company’s annual revenue for advertising at under $1 billion, Snapchat might very well be banking on the possibility of the tech accessory taking off in a big way when it comes to launching their IPO.