Friday, February 17, 2017

Snapchat Owner Snap Sets IPO Valuation At $22.2B

Hahahahahaahahahaha!!! How in the world does the CEO of a company that has posted nothing but losses think his company is worth $22 billion? Then again, if Twitter can get away with it....

Snap Inc, the owner of ephemeral messaging app Snapchat, has valued itself between $19.5 billion and $22.2 billion, the Wall Street Journal reported on Thursday, citing people familiar with the matter, as it gears up for one of the most hotly-anticipated initial public offerings (IPO) of the year. The valuation prices Snap at $14 to $16 per share, meaning it would be valued at the low end of the $20 billion to $25 billion range it had previously sought.