The Snapchat operator has confidentially filed for an initial public offering that will allow Alibaba, Tencent and Yahoo to exit, and it will be valued at between $20bn and $25bn.
Snap, the US-based instant messaging company formerly known as Snapchat, as confidentially filed for an initial public offering that will allow several corporates to exit, the Wall Street Journal reported yesterday.
The IPO is expected to value Snap, which is backed by e-commerce firm Alibaba and internet companies Tencent and Yahoo, at between $20bn and $25bn, people familiar with the matter told the WSJ, adding that the filing was made “in recent weeks”.
The flotation could take place as early…
