Months after rumors, Snap Inc has finally officially filed for its IPO. While the company launched as Snapchat five years ago, but last year they switched to Snap. In those five years, Snap has grown quite a bit–plus Spectacles the first form of hardware was introduced. Snap will be launching on the NYSE(New York Stock Exchange) with the ticker symbol “SNAP.”
Through the IPO, the company hopes to raise 3 Billion, and this should not be too hard as they have 158 million daily active users. The biggest task for the company will be both raising future funds and create a more divisive advertising stream. Snap said in its filing today that review was 58 million in 2015, but it grew to a much larger 404 million last year. Along with an increase in revenue, losses have been increasing as well.
Snap is expected to go live as a public company with the ticker SNAP in March with an evaluation of around 25 Billion. While it will not be the first technology IPO of the year, it might just come in as the largest.