Snap, the company formerly known as Snapchat, is planning an initial public offering (IPO) that could value the company at USD 25 billion or more, the Wall Street Journal reported, citing several sources familiar with the matter. There is still no guarantee the IPO will go through, and with that valuation.
The company told investors earlier this year that it expected revenue for this year at USD 250-350 million and for next year at around USD 1 billion next year. It is already ahead of the top end of its 2016 forecast, according to two people familiar with the matter.
Snap’s chief strategy officer Imran Khan is part of the team working on the filing, the sources said. Khan joined from Credit Suisse in 2015, where he was head of global internet investment banking and served as a key adviser on the Alibaba IPO.
Snap has raised about USD 2.4 billion in the private markets from a wide range of investors including Benchmark, Lightspeed Venture Partners and Fidelity Investments.
