Snap Inc., the parent company of Snapchat, has filed confidentially for an initial public offering, according to people familiar with the matter.
Snapchat filed papers with the U.S. Securities and Exchange Commission before last week’s U.S. Presidential election, one of the people said, asking not to be identified as the details are private. The company is targeting a valuation of about $20 billion to $25 billion in a listing that could come as early as March, the person said. No final decision has been made on the size or timing of the IPO, they said.
