17 February 2017
Snap sets terms for $3bn+ IPO
The Snapchat owner will raise $3.2bn if it floats at the top of its range, and shareholders that could include Tencent, Alibaba and Yahoo will sell 45 million shares in the offering.
Author: Robert Lavine, News Editor
Snap, the US-based social media company backed by internet groups Alibaba, Tencent and Yahoo, set the range yesterday for an initial public offering that would raise up to $3.2bn.