» » Snapchat IPO: Firm valued at $24bn despite losses

Snapchat IPO: Firm valued at $24bn despite losses

snapchat0Snap, owner of messaging app Snapchat, has priced its shares at $17 ahead of Thursday’s listing on the US stock market. The flotation values the business at $24bn, although Snap has never made a profit. It will turn the company’s founders Evan Spiegel and Bobby Murphy into multi-billionaires. Snapchat, which is especially popular with teenagers, […]

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