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Snapchat planning $25bn IPO?

Snapchat smashes revenue estimates as users and messages soar in lockdown

Messaging app Snapchat is reportedly planning an IPO that could value the company at $25bn.

The share of Snap Inc, which owns the popular picture and video-sharing app, would be largest on US stock exchange since 2014,

The firm, famous for its popular self-destructing messages and augemeted reality photos, is expected to generate $366.7m in global ad revenue, according to business data firm eMarketer.

The Wall Street Journal reports that Snap Inc is planning an initial public offering that could value the company at a minimum of $25bn.

If the report proves true, the share sale would be the largest on a US stock exchange since 2014, when Chinese e-commerce service Alibaba was first listed at a value of $168bn.

Founder and CEO Evan Spiegel, 26, recently renamed the company Snap Inc. According to Forbes he is now worth $2.1bn.

An IPO at $25bn would prove a big win for Spiegel who publicly rejected a $3bn bid for the service from Facebook in 2013.

The social network acquired competing photo app Instagram for $2bn in 2012 and has recently changed Instagram to include Snapchat-like features, such as the ability to upload a string of short, linked videos.

In September the company announced it was expanding its business beyond the app to launch Spectacles, glasses that can record 10-second clips that can be sent to smartphones. Snap Inc’s first hardware pr56oduct will be available in US in time for Christmas priced $130.

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