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Snapchat has filed for an initial public offering, sources familiar with the situation told Reuters. The company could go public as soon as March and be valued at USD 20-25 billion, making it one of the largest tech IPOs in recent years.
Snapchat filed with the Securities and Exchange Commission under the US Jumpstart Our Business Startups Act. This allows companies with less than USD 1 billion in revenue to file secretly for an IPO, allowing them to test investor appetite while keeping their financial data and business plans confidential.
Snapchat declined to comment. The company last raised USD 1.81 billion in May, which valued it at about USD 20 billion, media reports said at the time. Investors include General Atlantic, Sequoia Capital, T. Rowe Price and Lone Pine. Previous rounds included Fidelity Investment, Kleiner Perkins Caufield & Byers and Yahoo.
