Filthy Rich Snapchat Bro Is About To Get Even Richer

Filthy Rich Snapchat Bro Is About To Get Even Richer

Reports have emerged that Snap, Inc., the parent company of Snapchat, has begun the process for an initial public offering that could happen as early as March. According to the Wall Street Journal, the IPO could value the company at between $US20 billion and $US25 billion ($26.4 billion and $33 billion), which means CEO Evan Spiegel is about to have a very, very nice wedding.

Both Reuters and the Wall Street Journal spoke with unnamed sources who confirmed the news today. The confidential filing reportedly happened before the US presidential election last week, and the Journal notes that “the surprise victory of Donald Trump hasn’t affected its plans to go public as early as March”.

Reports initially popped up in October that the company was planning to go public. At the time, its potential valuation was reported as $US25 billion ($33 billion) or more. For context, Facebook’s IPO valued the company at $US104 billion ($137.6 billion), and Twitter’s IPO valued it at $US14.2 billion ($18.7 billion).

In an email to Gizmodo, the company declined to confirm or comment on the reports, but it’s safe to say that some Snapchat employees are probably planning some very expensive holidays right about now.

[Reuters, Wall Street Journal]