Snapchat Will Reportedly Reveal IPO This Week, Worth $25 Billion
Not bad for 26 year old CEO Evan Spiegel.
Social media messaging app Snapchat has been notoriously evasive about its business over the years, creating a aura of mystery much like the one that surrounds its disappearing messages. That all will change later this week, when it will reportedly release its IPO filing.
We reported on the initial public offering back in November of 2016, but as the actual date of filing has come closer the company’s estimated value has gone up. In November it was expected the company would be valued at $20 billion, but now sources are saying it will be worth $25 billion, or potentially more if demand for Snap stock is high.
Snapchat CEO Evan Spiegel will undoubtedly make a substantial sum from the filing, although we won’t know how much until the IPO is revealed. The stocks won’t be publicly available until later this year, likely March. The filing will reportedly take place on the New York Stock Exchange.
To understand Snapchat’s success, check out our list of rappers to follow on Snapchat.
Gucci Mane: Guwopsnap
Wiz Khalifa: khalifathecap
2 Chainz: hairweavekiller
Pusha T: kingpin.push
Big Sean: BigSeanSnapped
A$AP Ferg: Devoni143
YG: YG400
Snoop Dogg: SnoopDogg213
Lil Yachty: lilyachty
Desiigner: lifeofdesiigner
Kevin Gates: iamkevingates
Dreezy: QueenDreezy
Dej Loaf: dejloaf
Curren$y: rapsnlowriders
Lil Dicky: BooBurd
Lil Durk: LilDurk2x
Chief Keef: turboperhour
Lil Bibby: BibbyTheGreat
E-40: E40707
21 Savage: Savage730
Metro Boomin: metroboomin
Sonny Digital: AlejandroPesos
TM88: Sideshowbart88
Ty Dolla $ign: Tgodtydolla
Anderson .Paak: ReallaKilla
iLoveMakonnen: ilovemakonnen5d
Father: Badfather
Pouya: Pouya305
TDE: tdesnaps
Boogie: Boogita
Terrace Martin: tterracemartin
Dave East: MissYouLik
Denzel Curry: denzelcurryphh
BeatKing: Clubgodzilla
Webbie: Officialwebbie
[via Recode]
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