Snapchat, which recently changed its corporate name to Snap Inc., is preparing filings for a listing and aims to sell shares in the first quarter of next year, people familiar with the plans said earlier this month. Because the company’s revenue is less than $1 billion, it plans to file IPO documents confidentially with the U.S. Securities and Exchange Commission, one of the people said.
Despite Snapchat being, in my opinion, a complete waste of time that appeals to a generation I’m now too old and bitter about as 35+ male who’s out of touch with “millennials” – deep breath – it does have a business model.
They have hardware (now), they sell advertising and provide a direct channel to customers for brands, they didn’t go into this with no idea about how to monetise their product like say for instance – Twitter.
If I was investing in any of these new social media platform startups personally, Snap Inc would probably be the one.
Source: Snapchat Seeks to Raise as Much as $4 Billion in IPO – Bloomberg