The hot Los Angeles video messaging app company has already chosen Morgan Stanley and Goldman Sachs Group to lead the offering, Bloomberg reports. Snapchat has gradually opened its platform to advertisers, who have lined up, and paid high dollar, to advertise to app's young audience.
Bloomberg's sources say the IPO could value Snapchat in the $25 billion to $35 billion range. One person said it could go as high as $40 billion. Based on current valuations, a Snapchat IPO would be the biggest for a social media company since Twitter went public in 2013. MS