Snapchat allegedly eyeing an IPO as early as this year

Snapchat allegedly eyeing an IPO as early as this year

It's long been rumoured that Snapchat wants to go public, but the company has been talking to investment bankers about filing for an initial public offering (IPO) as early as the end of this year according to a report from the Information.

People the company has spoken to are alleged to have told the publication that the messaging app has been in conversations with people in the financial world about filing for an IPO either before 2016 is out or early in 2017.

Though Snapchat has yet to comment on the claims, its founder and chief executive Evan Spiegel teased the prospect of an IPO last year, telling attendees at a Re/code conference: "“We really need an initial public offering. We have a plan for that.”

It's not yet known what valuation Snapchat will apparently seek as it opens itself up to shareholder's but the company isn't anticipated to look for a huge premium to its last private valuation of $16bn, noted the Information.

Snapchat is becoming an increasingly popular choice for advertisers, with an eMarketer report earlier this week predicting that it could pull in as much as $1bn in ad revenue by the end of 2017.

Everyone from Coca-Cola to Nationwide has been active on the app, but some marketers remain unconvinced of whether the honeymoon phase will last.

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