Sneaky old Snapchat has its eyes set on the stock market, recently filing a confidential initial public offering (IPO), according to Reuters.
For those not savvy with financial lingo, an IPO is the first offering of a company’s shares to the public in order to raise funds. In other words, Evan is set to make a metric fuck-tonne of cash.
To put an actual figure on that vague measure, latest reports from Bloomberg estimate that Snapchat’s parent company, Snap Inc, is set to raise a staggering 4 billion dollarydoos with a valuation between 25 and 35 billion dollars. Holy dooley!
It’s not like they’re struggling, either – the company told its investors it expects to make between 250 and 350 million in advertising this year alone.
Expected to begin selling shares in March, it’s set to be one of the biggest technology IPOs in recent times. According to Dow Jones, Snap Inc filed the paperwork prior to the presidential election.
Now if you’ll excuse me, I’m going to scrape the depths of my brain for a simple, but exceptionally useful idea that will bucket me billions of dollars.
Source: Reuters.
Photo: Getty.
