Snap, which recently rebranded from Snapchat, will look to raise up to $4 billion in its much-anticipated IPO, according to Bloomberg. As far as the valuation tied to the public offering, estimates range from $25 billion to $40 billion. Even if the valuation comes in on the lower end, it would still be a sizable uptick from the $17.8 billion valuation the company commanded with a $1.8 billion round in May.
While talk of this IPO has reverberated for a while, it appears we're getting closer and closer to it actually happening. Details have consistently leaked in recent months, including a likely completion date in 1Q 2017 and that Goldman Sachs and Morgan Stanley will be lead underwriters. Bloomberg also reports that Snap may file confidential IPO documents with the SEC since its revenues are less than $1 billion.