Snapchat owner valued at up to $22bn in Wall Street share float

The popular messaging platform's share offer will confirm its co-founders as billionaires, six years after it started life.

Co-founders Evan Spiegel, 26, and Bobby Murphy, 28, will be confirmed as billionaires as a result of the offer which will see their holdings in the company reduced from 22% to 14% each.
They were reported to have rejected a $3bn takeover attempt by Facebook in 2013.
Snap's latest valuation figure falls short of previous expectations that it would put it as high as $25bn.
The company disclosed on Thursday that it was preparing to sell shares for between $14 and $16.
That would make the entire company worth between $19bn and $22bn.
It hopes to raise an estimated $2.3bn from the share sale, to be used to help fund its expansion.
The hotly anticipated initial public offering (IPO) would be the largest since China's Alibaba went public in 2014 valued at $171bn.

Comments

Popular posts from this blog

Best online IoT courses

16 best free project management software programs

How to create an Amazon Alexa skill