Snapchat finally makes its IPO appear

Snapchat finally makes its IPO appear

Snapchat finally makes its IPO appear. The ephemeral mobile storytelling app is going public, a move that will raise $3 billion and open up the books of the secretive company. Back in 2012, Facebook was seeking a valuation of $5 billion. The filing offers one of the biggest concrete indicators of Snapchat's business. It brought in $404 million in 2016, up from $58.7 million in 2015. The stock will trade under the ticker SNAP on the New York Stock Exchange. The underwriters are Morgan Stanley and Goldman Sachs, along with J.P. organ, Deutsche Bank Securities, Barclays, Credit Suisse and Allen & Company LLC. For now, CEO Evan Spiegel and his executive team will go on a roadshow to explain the company to Wall Street. Snap's IPO has been a long time coming. The full S-1 filing is available here.

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A Snapchat sign is displayed outside of the New York Stock Exchange in New York on Nov. 18, 2016.
A Snapchat sign is displayed outside of the New York Stock Exchange in New York on Nov. 18, 2016.

Snapchat, err Snap Inc., just made the papers for its long-awaited initial public offering appear.

The ephemeral mobile storytelling app is going public, a move that will raise $3 billion and open up the books of the secretive company. No valuation for the company as a whole is mentioned, but the company is predicted to still be one of the biggest tech IPOs ever. Back in 2012, Facebook was seeking a valuation of $5 billion.

The filing offers one of the biggest concrete indicators of Snapchat’s business. It brought in $404 million in 2016, up from $58.7 million in 2015.

The stock will trade…

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