Snap to choose NYSE for IPO: Report
Snap, the parent company of popular messaging app Snapchat, plans to list on the New York Stock Exchange when it debuts to the public, according to The Wall Street Journal and TechCrunch.
Snap is said to reveal its highly anticipated IPO filing later this week. Snap has already filed privately with the Securities and Exchange Commission, but we've yet to grab an official look at its financials.
After a nine-week roadshow, it's likely Snap could go public sometime in March, led by Morgan Stanley and Goldman Sachs.
According to The Wall Street Journal, the IPO could value Snapchat at around $25 billion. Snap is said to have made between $250 million and $350 million in advertising revenue in 2016, with more than 150 million daily active users.
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