Snap is preparing to file their IPO and go public this year, and it looks like they are planning to raise around $3.2 billion, with a validation in the range of $16.2 billion to $18.5 billion. This is all according to their latest filing with the SEC. This means that their pricing is now below their initial range of around $20 billion to $25 billion. Despite dropping their valuation, they are still expected to be the highest valued US tech IPO since Alibaba which hit a record of $25 billion in 2014. Snap, the parent company of Snapchat, has been a pretty popular company in the past couple of years, and they are definitely looking to take advantage of it.
There's already been plenty of hype around their long-awaited IPO. This is largely due to AppDynamics decided not to go public this year, but of course Cisco had a bit to do with that, paying $3.7 billion to acquire that company before their debut on the stock exchange. Snap has quite a few things going for it, number one they are hitting all of the younger users, which companies like Facebook, Twitter and even Google are having trouble getting too. So advertisers are flocking to Snapchat, part of Snap Inc. Then there is also their Bluetooth-connected glasses, called Spectacles. Which allow you to Snapchat straight from your face. It's pretty unique, as you get to see exactly what the user is seeing. It's basically Google Glass, but way cheaper, and with much less functionality - which is likely why it's so popular.
Snap, is still going to be a big deal when it does go public this year, and anyone who's into investing is definitely going to want to invest in Snap as they do have a very bright future. Just how bright is it? Well Facebook's co-founder Mark Zuckerberg had made an offer to buy the company a few years ago, and Snapchat turned it down. Snapchat has been growing at nearly unprecedented rates and it's showing no signs of slowing down anytime soon. You can read more about the filing that Snap made via the source link below.