- Getty/Michael Kovac
All of Silicon Valley is holding its breath for the IPO details on Snap, parent company of Snapchat. The company has a private filing with the SEC but the public S-1 documents have not been made available yet.
That will change soon, probably late next week, unnamed sources told Re/Code’s Kara Swisher. If true, that could mean that the actual IPO will likely occur in March, Swisher says, if Snap does a classic nine week road show pitching itself to potential investors.
This is a closely watched IPO for a few reasons. One is the sheer size of it. Sources have told Business Insider that the offering could value Snap between $20 billion and $25 billion.
Snap is also an incredibly secretive company, so the SEC prospectus documents should reveal a lot of information about the company and its business operations.
Evan Spiegel, the 26-year-old CEO and cofounder of Snap, is being pitched as the “visionary,” to potential investors who may not be as familiar with the product, given that its core audience of 150 million daily users is predominantly young Millennials.