Massive Silicon Valley IPOs: Snap Inc.
When it comes to social media, it doesn’t get much bigger than Snapchat. While investors are left to speculate about IPOs for a number of top tech companies, the Snapchat IPO process has officially begun.
In November, Snap Inc. filed its IPO paperwork with the U.S. Securities and Exchange Commission. A person familiar with the matter estimates that the Snap IPO could value the company at up to $25 billion. That number would give Snap roughly the same market cap as semiconductor giant Micron Technology, Inc. (NASDAQ:MU).
Of course, there are plenty of numbers would-be Snapchat investors throw around to justify its massive valuation. Snapchat currently has more than 150 million daily active users and 301 million monthly active users. More than 30% of American Millennial internet users access Snapchat regularly. A mind-boggling 9,000 snaps are shared per second on the popular app.
With that kind of market presence, it’s no wonder investors see major monetization opportunities for the company. The Snap IPO could happen as soon as March 2017.