Snapchat parent company stock valuation at $22.2B – report

Rappler.com
Snapchat parent company stock valuation at $22.2B – report
Snap reportedly sets its valuation at around $14 to $16 a share, or between $19.5 billion to $22.2 billion

MANILA, Philippines – Snap Incorporated, the parent company of disappearing media messaging service Snapchat, is looking to be the next big thing in the tech industry, according to sources familiar with the company’s plans.

Marketwatch reported Thursday, February 16, that Snap has set a valuation for itself at around $14 to $16 a share, or between $19.5 billion to $22.2 billion, ahead of its initial public offering (IPO).

The range of the valuation is on the low end of Snap’s initial estimates, which were in the $20 billion to $25 billion range.

Marketwatch said Snap and its underwriters will set the company’s final IPO price based on investor feedback from an upcoming roadshow to hedge funds and mutual funds.

Depending on the outcome of their roadshow – which is set to be held under the “SNAP” ticker – shares for Snap Incorporated could be priced as early as March 1.

Trading will follow as soon as the next day on the New York Stock Exchange. – Rappler.com

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