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Snapchat owner working on IPO for 2017 that values company at $25B

By Doug G. Ware

VENICE, Calif., Oct. 6 (UPI) -- Snap Inc., the parent company of the popular messaging application Snapchat, is working on an initial public stock offering for next spring that would value the company at about $25 billion, reports said Thursday.

Company executives are working on the paperwork to take the firm public, perhaps as early as March, The Wall Street Journal reported.

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In order to start selling public shares, Snap Inc. must have a dollar value. That number, according to the report, is $25 billion -- or maybe more.

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If the IPO happens, it would be the largest on a U.S. market exchange since Chinese-based Alibaba debuted with a $168 billion valuation in 2014.

Snap was last officially appraised at $17.8 billion in May.

The company told investors earlier this year that it anticipated revenue as high as $350 million for 2016, and up to $1 billion next year, the Journal report said. It generated just $60 million in revenue last year.

Snapchat is an ad-driven social messaging app founded in 2012 with venture capital. It's unclear whether Snap Inc. is operating in the black.

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