New York/San Francisco — Snapchat has filed for an initial public offering, sources familiar with the situation said on Tuesday, which puts the messaging app a step closer to the biggest US stock market debut since 2014. The company could go public as soon as March and be valued at $0bn-$25bn, making it the largest IPO since Chinese e-commerce giant Alibaba Group Holding went public two years ago, valued at $170.9bn. It would be the largest US technology IPO since Facebook’s $81.2bn debut in 2012. Snapchat filed with the Securities and Exchange Commission under the US Jumpstart Our Business Startups Act. Companies with less than $1bn in revenue can secretly file for an IPO, allowing them to quietly test investor appetite while keeping their financial records confidential. The filing was made before Republican Donald Trump’s unexpected victory in the US presidential election on November 8, which has increased uncertainty in global markets, but the Dow Jones industrial average has hit...
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