Snap sets IPO valuation at an ambitious $22.2bn ahead of roadshow
Decacorn which makes the disappearing-photo app Snapchat could have the biggest technology IPO since Alibaba raised $25bn in 2014
Snap set the valuation of its initial public offering (IPO) at between $19.5bn and $22.2bn in what could be the third-biggest technology offering of the past decade, people familiar with the matter said. The maker of disappearing-photo app Snapchat is valuing its shares at $14 to $16 on a diluted basis, they said, asking not to be identified as the details are private. It could be the biggest technology IPO since Alibaba raised a record $25bn in 2014. Snap launched itself in 2012 with an app that sends disappearing messages, rebranded itself last year as a camera company and started selling $130 video camera glasses. It generates the majority of its revenue from advertising, seeking to challenge the dominance of existing internet giants. After confidentially registering with the US Securities and Exchange Commission late last year for an IPO, Snap Inc filed its IPO registration statement in early February and is expected to record the biggest valuation in a US technology IPO since ...
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