Snap Inc., the parent firm behind the messaging app Snapchat, has filed its documents for an initial public offering (IPO) of stock with the U. S. Securities & Exchange Commission (SEC).
While the company didn't reveal how much it plans to ask for through its IPO, some reports have pegged the amount in the range of between $20 billion and $25 billion.
Snap Inc. reportedly filed the documents in 20166, but used a Jobs Act provision that allows firms with less than $1 billion in annual revenue to conceal their IPO plans from the public.
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