Snap Inc, parent company to Snapchat, has finally filed for its long-rumored IPO.
Although it’s not specifying any amounts in its filing, the Wall Street Journal reports the offering is expected to be between $20 billion and $25 billion, making it the biggest IPO listed in the US for tech since Alibaba made its huge $168 billion debut back in 2014.
The company that taught you how to vomit a rainbow could quickly become one of the top publicly traded tech businesses in the country. It’s expected the company will first offer its shares sometime around March.
It’s going to be an interesting next few months for Snap. While Snapchat is undeniably big with the youngins, Facebook has launched a full assault on the app by imitating and arguably improving on many of its core features.
On the other hand, Snap has just begun to branch out from its main software offering with the ever-so-popular Spectacles, so it certainly still has room to grow. And it’s not like the app is being left behind with a report by The Information suggesting an imminent push into augmented reality with new Lenses that can impose virtual images and ads onto real-world objects.