Snap Inc. will publicly move towards a highly-anticipated initial public offering (IPO) this week. It confidentially filed the necessary paperwork in 2016 and now it's going to publicly file, according to Recode. Snap will go around promoting itself to investors as a strong company that can perform well on the stock market.
It'll be at least a couple more months before the IPO itself takes place and we learn pricing.
Snap will go into its IPO with an estimated worth of $20 billion. The company plans to get over $1 billion in revenue during 2017 and it has 150 million daily active users.
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