WASHINGTON (dpa-AFX) - Snap Inc., the parent company of popular messaging service Snapchat, is working on an IPO for as early as March, reports the WSJ.
Snapchat is looking for a valuation of about $25 billion or higher. There is no guarantee the four-year-old Venice, California-based company will proceed with a share sale on that time frame or what its valuation might be, the report says.
If Snapchat goes public in March, it would be the biggest company to go public on a U.S. exchange since 2014. Chinese e-commerce giant Alibaba Group Holding Ltd. had listed its shares in 2014 giving it a valuation of $168 billion.
Snapchat expects revenue of between $250 million and $350 million in 2016 and as much as $1 billion in 2017.
In 2013, Snapchat had rejected Facebook's offer to buy the company for $3 billion in cash.
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