Marketing, E-commerce and Digital Design, Product Management, Brand Development, Design, Advertising and Consultancy

Snap Inc float price hits top end of expectations with a market valuation of $24bn

on Mar 2, 2017 | 0 comments

By John Glenday

Snap Inc has shrugged off investor concerns over a lack of profits with the business being valued at almost $24bn ahead of its eagerly anticipated IPO.

Snapchat’s parent company has priced its shares at $17 each. At the higher end of expectations, the final figure cements Snap as the largest US tech IPO since Alibaba in 2014, topping estimates of between $19.5 and $22.3bn and valuing it at more than double what Twitter is worth.

At $17 per share the stock was more than 10 times oversubscribed by eager investors clamoring for a stake, presenting Snap with the option of gunning for Read full story ›

Source: The Drum