Snapchat has begun preparing filings for an initial public offering and is aiming to sell shares in the first quarter of next year, according to people familiar with the matter.
The company, which recently changed its name to Snap Inc., could list as soon as March, depending on factors including equity market volatility, the health of the Chinese economy and the outcome of the U.S. presidential election, according to two people familiar with the matter. It’s looking to file the necessary documents for a listing by the end of this year, one of the people said.
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The social media site known for its disappearing texts and photos could fetch a market value of at least $25 billion (roughly Rs. 166,989 crores), The Wall Street Journal reported earlier Thursday.