After some time of giving Facebook a run for its money with continued growth and focusing the company to match its service with new features and the like, Snapchat’s parent company Snap Inc. has filed to become a publicly traded company.
Snap Inc.’s goal is to pick up $4 billion from interested investors, according to Bloomberg. Even with the filing of the IPO it’s certain to draw a number of interested parties—especially with a year’s worth of reports that Snap Inc.’s flagship service is worrying social networking titan and one time interested party Facebook.
One interested party could be Alibaba which wanted to invest $10 billion into the company in 2014. There is also Snapchat’s growth which really adds to its appeal. The company’s flagship platform has steadily picked up the teen demographic which Facebook is losing. This has driven Facebook to create a direct Snapchat competitor in Lifestage for that demographic earlier in the year.
The company is expected to go public early in 2017 says Reuters and will bump the company’s valuation anywhere between $25 billion and $35 billion. Currently Snap Inc. is valued at $18 billion.