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SNAPCHAT PARENT FIRM Snap Inc has filed confidentially for a public share offering valuing the disappearing messaging platform at more than €20 billion, The Wall Street Journal reported last night.
The initial public offering (IPO) would be among the biggest in the tech sector in recent years and shine a light on the fast-growing platform used by more than 100 million people.
It is one of the sector’s most prominent “unicorns” – a term used for venture-backed firms with valuations over €1 billion – along with Uber and Airbnb.
According to the WSJ, the filing last week was made under regulations that allow the first stages of the process to be kept confidential.
Snapchat declined to comment on reports of the IPO, which would likely be the largest since China’s Alibaba hit the market in 2014.
While its finances are not public, the research firm eMarketer has estimated that Snapchat would generate nearly a billion dollars next year from advertising.
Snapchat’s messaging has been a hit, especially with young people, but it has been broadening offerings to include content from media partners in the hope of expanding use and money-making opportunities.
There’s money in disappearing Mickey videos it seems
When you have advertising appearing alongside your Willy pic there is and they have a valuable database of users under 30
They’d have to be fairly creative adverts to get you interested fairness. Bord Gais could make a bomb. “Feeling cold (like him)? Switch today and watch your savings grow! (Among other things?”
Ha :)
People are very trusting about the whole “yeah, we delete it, we swear” craic from this company; and even if they are honest, who’s to say their systems haven’t been compromised?
There’s some wealth of blackmailing material there.
@Magnus Diccus: That’s often the same with most of the data you “delete” from cloud-based providers. It’s all sitting on hard drives in a data centre somewhere just marked as “deleted”.
Wally will not be amused.
Let’s nationalize it
Probably worth shorting me thinks
@Myk_Oval_Balls_nRyt:
I know nothing about the site, never use it but people probably said the same about Facebook.
IPO price $38
Today $117
Doesn’t mean they all couldn’t go belly up….
And those people were right, very right and made lots of money…
Facebook IPO price had to be propped up with share buy backs the day of and plunged in value. It was $28 a week later, bottomed out at $20 three months after.
I don’t see this going well for whoever buys them, it’s a pretty ineffective platform for advertising and news.
You’d think a €20 billion company would be able to write an app that doesn’t burn through my battery like rocket fuel and turn my phone into a glacial-paced radiator.
You know times change, generations come and go, companies and entire industries rise and fall…
Yet the fact that if it sounds too good, it probably is will reign forever.
Thing is I’m not entirely sure is it this app that’s not worth that or that 20billion dollars that isn’t worth what the common perception of 20 billion dollars?
We used look at assets, revenue, profit…. now it seems only it’s only worth that because someone or some people collectively have 20 billion dollars to loose and that’s what they’re prepared to pay.
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