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Wireless

Snap valuation jumps to over USD 20 bln after IPO

Thursday 2 March 2017 | 10:55 CET | News
Snap raised USD 3.4 billion during its IPO, selling 200 million shares at USD 17 per unit, Bloomberg reported. The price topped the IPO price range of USD 14-16 per share given in February, and takes the company's market valuation to about USD 20 billion, based on 1.16 billion shares outstanding after the IPO. The amount implies a multiple of about 21.4 times EMarketer's estimate for Snap's 2017 advertising sales.

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Categories: Mobile & Wireless
Companies: Snap
Countries: World
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