Snap Inc. Files for IPO, Describes Itself as a Camera Company

In its IPO filing, Snap Inc. revealed that an average of 158 million people use the Snapchat app — sending more than 2.5 billion messages and images — every day. The company’s annual revenue grew from $58.7 million in 2015 to $404.5 million last year. Nearly all its revenue comes from advertising, especially on mobile. Expected to seek a market valuation of $20 billion, Snap may receive $4 billion, which, according to Standard & Poor’s Global Market Intelligence would make the company one of the biggest tech offerings ever in the U.S. Continue reading Snap Inc. Files for IPO, Describes Itself as a Camera Company

Instagram Mimics Snapchat and Periscope with New Features

Facebook’s Instagram just debuted two new features for live streaming video and ephemeral messaging, both of which reflect the popularity of such features in Snap’s Snapchat and Twitter’s live-streaming Periscope. By doing so, Instagram has heated up its competition with Snapchat and now competes more directly with Periscope. Instagram, which will roll out the new video features to a small group before a wider launch, also recently introduced Instagram Stories, which apes Snapchat Stories.  Continue reading Instagram Mimics Snapchat and Periscope with New Features

Snapchat Parent Preparing IPO, Valuation Could Exceed $25B

Snap Inc., the newly named parent company of messaging service Snapchat, is readying an initial public offering that could value the company at more than $25 billion. Snap is reportedly prepping “for an IPO with a view toward selling the shares as early as late March,” explains The Wall Street Journal. “There is no guarantee the four-year-old Venice, California, company will proceed with a share sale in that time frame, and there is no guarantee it will achieve a valuation of $25 billion or more.” However, if the company does reach that value, “it would be the biggest company to go public on a U.S. exchange since 2014″ when China’s Alibaba Group Holding made its debut. Continue reading Snapchat Parent Preparing IPO, Valuation Could Exceed $25B