The maker of Snapchat, expected to be valued at more than $20 billion, revealed its inner workings for its IPO.
BEAM 4 Feb, 2017
After months of speculation, Snap Inc. filed yesterday for a $3 million IPO on the New York Stock Exchange. When the company officially goes public in March, it is expected to be valued at more than $20 billion.
Founded in 2011, the maker of messaging app Snapchat and Spectacles (sunglasses that record video), is known for being pretty opaque in its business dealings.
But this move now requires the previously mysterious company to submit financial details and its plans for the future with the U.S. Securities and Exchange Commission, so that potential shareholders have the information they need to make decisions about the company’s stock.
This article was first published on Entrepreneur