Snap Inc. the parent company of Snapchat, secretly filed for its IPO last year, but now it looks like we will finally get a chance to have a peek at the inside of the picture-message giant's financials and workings by the end of next week.
Snapchat is planning to file its initial public offering late next week, according to a Redcode report. Bringing the company a step closer to becoming a publicly-traded company, giving Wall Street a tech IPO in 2017.
After the public filing, Snap will have to pitch its case to Wall Street on why it will make a good publicly traded company. And why they should be buying stock in Snap Inc. For all we know, Snap Inc is valued over $20 billion in its IPO.
TechCrunch reports that, Snapchat’s CEO, Evan Spiegel’s pitch, would be rather difficult given that Facebook and Instagram stories, that have attempted to clone Snapchat’s features. HE would have to prove to Wall Street that Snap Inc will remain unique.
Snap Inc’s IPO also come very close to when Facebook has its investors flagged for hitting its maximum ads limit, making the company to move its pitch to a company that is exploring other options such as oculus. We will have to wait until the end of next week and see what Snap Inc has in store for future.