{"id":268865,"date":"2016-11-16T08:17:56","date_gmt":"2016-11-16T08:17:56","guid":{"rendered":"http:\/\/citifmonline.com\/?p=268865"},"modified":"2016-11-16T08:17:56","modified_gmt":"2016-11-16T08:17:56","slug":"snapchat-files-for-stock-market-float","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/11\/snapchat-files-for-stock-market-float\/","title":{"rendered":"Snapchat ‘files for stock market float’"},"content":{"rendered":"
Snap, the parent company of messaging app Snapchat, has filed to list on the US stock market, according to several reports.<\/p>\n
Based on investments so far, the California-based firm would be worth between $20bn and $25bn (\u00a316bn-\u00a320bn).<\/p>\n
That would make it the largest US flotation since Chinese e-commerce giant Alibaba listed two years ago.<\/p>\n
Snapchat’s parent company Snap declined to comment on the reports to the BBC.<\/p>\n
Young audience<\/strong><\/p>\n The company began in 2012 as a mobile app that allowed users to send photos that vanish within seconds.<\/p>\n It now has 100 million daily users, which is more than Twitter.<\/p>\n And with 60% of its users aged between 13 and 24, it is seen as an appealing way for advertisers to reach young people.<\/p>\n Snap’s founder, 26-year-old Evan Spiegel, turned down an offer from Facebook founder Mark Zuckerberg to buy Snapchat for $3bn just three years ago.<\/p>\n