Multiple reports are claiming that Snap, the company behind social media sensation Snapchat, is filling for an Initial Public Offering.
According to business press, an IPO could value the company anywhere between $20 to $30 billion dollars.
The huge success of Snapchat, a social media platform that allows users to tell stories trough short videos, might be the reason for the IPO. As well as guarding itself in the inevitable battle against social media titan Facebook, that has already copied Snapchat’s main idea by implementing “stories” on their Image-sharing site Instagram.
The IPO could happen as early as march 2017.