Snapchat ‘confidentially’ files for IPO according to reports
Burgeoning social media platform Snapchat is reported to have “confidentially” filed for a float on the US stock exchange, according to reports.
Reuters is reporting that the company, founded in the US by Evan Spiegel just five years ago is understood to have filed papers with US regulators.
Earlier reports suggest the company has been gearing up to float with an initial public offering valuing the company at US$25bn.
Snapchat has caught the eyes of marketers across the world since opening up to advertising on the platform which lays claim to a substantial part of the hard-to-reach 18-25 year old demographic.
The move to list sees it follow in the footsteps of Facebook, which IPO’d for US$104bn and Twitter, which gained more than 70% on its first day of listing, giving it a value of just shy of US$25bn.
