Monday 25 September 2017

Snapchat CEO: 'We have to IPO'

Snapchat CEO Evan Spiegel
Snapchat CEO Evan Spiegel

Snapchat CEO Evan Spiegel has said that the company plans to have an initial public offering but did not specify when that would happen.

"We have to IPO," Spiegel said during a talk at a technology conference hosted in Ranchos Palos Verdes, Calif., by technology online-only publication Re/code.

"It's just another dot on the list of things to do," Spiegel added.

In 2013, Snapchat turned down a $3bn offer from Facebook to acquire the company. Alibaba poured $200m into the ephemeral photo and video sharing app in March at a valuation of $15bn.

The app has about 100 million users, with 65pc sending 'snaps' every day.

Reuters

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