Snap files for $3bn IPO but offers investors no profit promise or voting rights
Company to float in March 2017
Photo: Adam Przezdziek/Flickr
Snapchat owner Snap Inc has unveiled plans for its eagerly-anticipated $3bn initial public offering (IPO), but has offered investors no promise on profits or a say on how the company will be run.
Snap is estimated to be valued between $20bn-$25bn when it floats on the New York Stock Exchange in March, in what promises to be one of the biggest technology IPOs of recent years. However, in what...
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